interest of amortization method

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L1: interest of amortization methodassuming 55 age, amortization method: $130,000 balance, 3.37 (is 120%) interest rate, and 29.6 life exp for first year, what is the formula(s) and/or equation(s)for obtaining$7009 annual amount?Specifics and details are missing at this site. Results are shown, but how results were obtained. More detail is requested.2009-09-11 05:15, By: patrick, IP: []
L2: interest of amortization methoduse this formula:

$130,000 x (.0337 / (1 (1 + .0337)^
-29.6)) = $7008.552009-09-11 06:19, By: patrick, IP: []

L3: interest of amortization methodbased on the formula given, can you show the calculations that produced the answer given2009-09-13 17:28, By: Rod, IP: []

L4: interest of amortization methodSEND ME email at and i can show breakdown.. 2009-09-14 07:01, By: phk, IP: []

L2: interest of amortization methodSorry, but this site is about SEPP plans, not how to do basic math calculations.
You can find all of the math/actuarial formulas used on this website on websites dedicated to that purpose or posssibly even on the IRS website. 2009-09-11 11:24, By: Gfw, IP: []

L3: interest of amortization methodsorry but your reply is a bit late, formula already provided in another reply…2009-09-13 21:10, By: patrick, IP: []