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monthly payment formula math. Payment P x r n x 1 r nnt 1 r nnt - 1. C Monthly Payment.
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R - the monthly interest rate. You want to calculate monthly payments not annual payments so youll need the total number of months throughout the life of the loan. N Total of Months for the loan Years on the loan x 12 Example.
These variables represent the following inputs.
100000 the amount of the loan. Using the RATE formula in Excel the rate per period r for a Canadian mortgage compounded semi-annually of 100000 with a monthly payment of 58445 amortized over 25 years is 041647 calculated using rRATE 2512-58445100000. C Monthly Payment. The monthly payment equation can be represented as follows.
