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what is the formula for calculating monthly interest. Note that you use a monthly interest rate 5 12 months and you adjust the number of periods to 60 months. Formula For Simple Interest is represented as Simple Interest P r t.
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Gather information like your principal loan amount interest rate and total number of months or years that youll be paying the loan. Formula to calculate monthly interest. The Best Office Productivity Tools.
P the principal investment amount.
360 where i interest rate n to the power of n. P the principal investment amount. Then we multiply the principal by the result. The PV or present value portion of the loan.
