Finance - loan payment
What is the monthly payment on a €50,000 loan at 3% for 10 years?
Answer
€482.80
/ month
Standard amortization formula on €50,000 @ 3% / 10y
How we got there
- 01Loan amount: €50,000
- 02Monthly payment: €482.80
- 03Total paid over 10 years: €57,936.45
- 04Total interest: €7,936.45
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