Finance - loan payment
What is the monthly payment on a €10,000 loan at 3% for 3 years?
Answer
€290.81
/ month
Standard amortization formula on €10,000 @ 3% / 3y
How we got there
- 01Loan amount: €10,000
- 02Monthly payment: €290.81
- 03Total paid over 3 years: €10,469.24
- 04Total interest: €469.24
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