SOLUTION: Trying to figure out to solve amortization on a $9000 loan @ 6.99% for a period of 5y. So far none of my answers match what is coming out using the online calculators.
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-> SOLUTION: Trying to figure out to solve amortization on a $9000 loan @ 6.99% for a period of 5y. So far none of my answers match what is coming out using the online calculators.
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Question 618158: Trying to figure out to solve amortization on a $9000 loan @ 6.99% for a period of 5y. So far none of my answers match what is coming out using the online calculators. Answer by solver91311(24713) (Show Source):
It depends on the compounding period, usually the same as the periodicity of the payments. Best way to do this is to use Excel. Write back and I'll show you.
John
My calculator said it, I believe it, that settles it
