Finance - loan payment
What is the monthly payment on a €20,000 loan at 5% for 30 years?
Answer
€107.36
/ month
Standard amortization formula on €20,000 @ 5% / 30y
How we got there
- 01Loan amount: €20,000
- 02Monthly payment: €107.36
- 03Total paid over 30 years: €38,651.16
- 04Total interest: €18,651.16
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