Finance - loan payment
What is the monthly payment on a €10,000 loan at 7% for 30 years?
Answer
€66.53
/ month
Standard amortization formula on €10,000 @ 7% / 30y
How we got there
- 01Loan amount: €10,000
- 02Monthly payment: €66.53
- 03Total paid over 30 years: €23,950.89
- 04Total interest: €13,950.89
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