Finance - loan payment
What is the monthly payment on a €20,000 loan at 12% for 20 years?
Answer
€220.22
/ month
Standard amortization formula on €20,000 @ 12% / 20y
How we got there
- 01Loan amount: €20,000
- 02Monthly payment: €220.22
- 03Total paid over 20 years: €52,852.13
- 04Total interest: €32,852.13
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