Finance - loan payment
What is the monthly payment on a €10,000 loan at 5% for 10 years?
Answer
€106.07
/ month
Standard amortization formula on €10,000 @ 5% / 10y
How we got there
- 01Loan amount: €10,000
- 02Monthly payment: €106.07
- 03Total paid over 10 years: €12,727.86
- 04Total interest: €2,727.86
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