0
If you have a set number of payments and a constant interest rate, use the PMT function.
PMT(rate,nper,pv,fv,type)
- Rate = Interest rate for the loan
- Nper = Total number of payments for the loan
- Pv = Present Value (total amount a series of future payments is worth now). Also known as Principal
- Fv = [optional] Future Value (cash balance after the last payment). If you omit Fv, it is assumed to be 0 (zero). (e.g., The loan is paid off.)
- Type = [optional] Indicates when payments are due
- 0 or omitted = End of the period
- 1 = Beginning of the period
What else can I help you with?
What describes an installment loan?
Installment loans require monthly payments to pay the loan.
What is Monthly installment plan?
Monthly installment plan
What are the benefits of installment loans?
Installment loans offer the benefit of predictable monthly payments, which can help borrowers budget more effectively. They also provide an opportunity to build credit history through regular, on-time payments. Additionally, installment loans can be used for various purposes, such as financing large purchases or consolidating debt.
How do I calculate my monthly car payments for it?
This is a very good website to calculate the monthly car payments: http://autos.aol.com/calculators/car-payment-calculator/ or http://www.carmax.com/enus/car-payment-estimates-calculator/default.html
Cassandra is repaying an installment loan of 3500 with 20 equal monthly payments of 196 each what is the annual percentage rate of the loan?
C 12%
What would I need a mortgage amortization calculator for?
The mortgage amortization calculator is for working out your monthly mortgage payments. It will also calculate into the equation when and if you make extra monthly payments on your mortgage.
What is the difference between installment and annuity?
Instalments are payments for your debts which can be paid on monthly, quarterly or yearly basis or way to make payments. Annuity is insurance product which is contract between you and insurance company for your investments.
Will a credit report tell you your debt to income ratio?
No. To calculate your debt to income ratio, add up you total monthly bills (only the bills that will report to the credit bureaus like credit card payments, car loans etc. , do not include the utilities, cell phone bills, insurance etc.) Take your monthly payments and divide them by you monthly income, this will give you the debt ratio. If you owe less than 10 months on an installment loan, most banks will not count that in your monthly debt. (An installment loan is like a car loan...somethingthat eventually you will payoff. Not like a credit card, this is a revolving debt you can payoff and use it again
How can I calculate the monthly payment with APR?
To calculate the monthly payment with APR, you can use the formula for loan payments: Monthly Payment P r(1r)n / (1r)n - 1 Where: P Principal loan amount r Monthly interest rate (APR divided by 12) n Number of monthly payments Plug in these values into the formula to find the monthly payment amount.
What would payments be on 4200. at 20.45?
To calculate the payments on a loan of $4,200 at an interest rate of 20.45%, you would need to know the loan term and whether the interest is simple or compounded. Assuming it's an installment loan with a fixed term, you can use a loan calculator or formula to determine the monthly payment. For a specific example, if the loan term is 12 months, the monthly payments would be approximately $426.65. Please provide the loan term for a more accurate calculation.
What is the adjustable rate mortgage formula used to calculate monthly payments?
The adjustable rate mortgage formula used to calculate monthly payments is: Monthly Payment P(r(1r)n) / (1r)n - 1, where P is the loan amount, r is the monthly interest rate, and n is the number of months in the loan term.
Will a loan auto calculator help you figure out your monthly payments?
A loan auto calculator is made for precisely that, figuring out your monthly payments. They are straight forward to use and clearly state exactly what information they need to calculate your monthly payment.
