0
You would use the PMT function.
= PMT ( rate , nper , pv , fv , type )
rate - the annual interest rate for the loan.
nper - the total number of payments for the loan.
pv - the present value or the amount borrowed or the "principal of the loan.
fv - future value - for a loan this will be 0.
type - indicates when payments are due:
"0" (or omitted) - at the end of the period ie: end of the month.
"1" - at the beginning of the period ie: beginning of
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How far behind is Masood with his loan repayments to Phil?
two repayments
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A customer wants a personal loan for 400.00 His repayments for the loan are 40.00 per month for 12 months How much of his total repayment is interest?
£80.00
