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how to calculate compound interest rate on a loan. The function takes two arguments ie principal and schedule. For the schedule we need to provide the list of interest rates with commas in curly braces to calculate the value with compound interest.
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P the principal investment amount. An auto loan calculator can give you the information you need about what you can afford what interest you might pay monthly and how much interest youll pay over the life of your auto loan. Based on Principal Amount of 1000 at an interest rate of 75 over 10 years.
Simple interest is calculated by using only the principal balance of the loan each period.
Looking for more calculators. With compound interest the interest per period is based on the principal balance plus any outstanding. Use our quick and easy tools to calculate Compound Interest. Discover the miracle of compounding.
