Finance - loan payment
What is the monthly payment on a €10,000 loan at 9% for 5 years?
Answer
€207.58
/ month
Standard amortization formula on €10,000 @ 9% / 5y
How we got there
- 01Loan amount: €10,000
- 02Monthly payment: €207.58
- 03Total paid over 5 years: €12,455.01
- 04Total interest: €2,455.01
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