Finance - loan payment
What is the monthly payment on a €50,000 loan at 3% for 3 years?
Answer
€1,454.06
/ month
Standard amortization formula on €50,000 @ 3% / 3y
How we got there
- 01Loan amount: €50,000
- 02Monthly payment: €1,454.06
- 03Total paid over 3 years: €52,346.18
- 04Total interest: €2,346.18
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