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zheka24 [161]
2 years ago
5

How to calculate loan

History
1 answer:
Veseljchak [2.6K]2 years ago
6 0

Answer:

Divide your interest rate by the number of payments you'll make in the year (interest rates are expressed annually). So, for example, if you're making monthly payments, divide by 12. 2. Multiply it by the balance of your loan, which for the first payment, will be your whole principal amount.

Explanation:

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