Finance - loan payment
What is the monthly payment on a €10,000 loan at 7% for 20 years?
Answer
€77.53
/ month
Standard amortization formula on €10,000 @ 7% / 20y
How we got there
- 01Loan amount: €10,000
- 02Monthly payment: €77.53
- 03Total paid over 20 years: €18,607.17
- 04Total interest: €8,607.17
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