Keyword Analysis & Research: loan calculator3


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Frequently Asked Questions

What is the formula for calculating a loan?

The formula for calculating a loan payment is: Monthly payment = P [{r(1+r)^n}/{(1+r)^n-1}] An explanation of the symbols: ^ : This denotes an exponent; in the equation, it would read, "One plus r raised to the power of n.".

How long to pay off loan calculator?

The loan payoff calculator will display three results: Months to Payoff – 81 months. Years to Payoff – 6.75 years. Interest Paid – $2,555. Now, most lenders won’t make a loan for 81 months, since it doesn’t represent a specific number of years.

How do you calculate the payment of a loan?

The loan payment calculation for an interest-only loan is easier. Multiply the amount you borrow by the annual interest rate. Then divide by the number of payments per year. There are other ways to arrive at that same result.

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