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asked 9 months ago
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Listed below can be used for amortized loans with fixed APR's for a loan period of n months.
Taxes are not considered because their rates can vary from state to state.
Points are also not included.
Pmt = A [ r ( 1 + r ) n ] / [ (( 1 + r ) n) -1 ]
A = loan amount
r = monthly interest rate (APR/12)
n = number of months financed
T = total payments
T = nA
F = finance charges
F = T - A
F = nA - A
F = A ( n - 1 )
Taxes are not considered because their rates can vary from state to state.
Points are also not included.
Pmt = A [ r ( 1 + r ) n ] / [ (( 1 + r ) n) -1 ]
A = loan amount
r = monthly interest rate (APR/12)
n = number of months financed
T = total payments
T = nA
F = finance charges
F = T - A
F = nA - A
F = A ( n - 1 )
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