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what is the formula to calculate payment of a loan. Includes taxes insurance PMI and the latest mortgage rates. The loan payment formula is used to calculate the payments on a loan.
Simple Interest Loan Calculator For Excel Amortization Schedule Simple Interest Loan Calculator from www.pinterest.com
To calculate a loan payment amount given an interest rate the loan term and the loan amount you can use the PMT function. To calculate the monthly payment convert percentages to decimal format then follow the formula. A is the amount of payment for each period.
PMTC6 12 C7 - C5.
For example if you have a 200000 30-year loan at 11 percent interest your monthly percentage rate is 11120091667. A loan by definition is an annuity in that it consists of a series of future periodic payments. The PV or present value portion of the loan payment formula uses the original loan amount. Free loan calculator to determine repayment plan interest cost and amortization schedule of conventional amortized loans deferred payment loans and bonds.
