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what is the formula to calculate payment of a loan. Say you want to calculate a monthly mortgage payment using a 5 interest rate. P i L 1 in 1 in - 1.
Determine Your Monthly Car Loan Payment Enter Your Vehicle Value Or Loan Value Interest Rate Initial Deposit And Car Loan Calculator Car Loans Car Payment from www.pinterest.com
Payment P x r n x 1 r nnt 1 r nnt - 1. In the above equation. 0005 6 annual rateexpressed as 006divided by 12 monthly payments per year n.
P i L 1 in 1 in - 1.
100000 10005360-1 0005 1000536059955 or 100000166791659955. The formulas used for amortization calculation can be kind of confusing. 512 or 00512 or the corresponding cell in this case C312. The formula to use when calculating loan payments is M P J 1 - 1 J-N.
