SOLUTION: loan amount 150 000 pesos payable 12 months in 10 percent interest per annum how is my monthly amortization.
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Question 1168088
:
loan amount 150 000 pesos payable 12 months in 10 percent interest per annum how is my monthly amortization.
Answer by
Theo(13342)
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Show Source
):
You can
put this solution on YOUR website!
10% interest / 12 = .833333333% per month
use the following calculator, unless you need to use formulas.
https://arachnoid.com/finance/index.html
results are displayed below:
calculator says payment at the end of each month is equal to 1,318.74.
a display of the month by month remaining balance on the loan is shown below>
if you need to use formulas, then reference the following tutorial.
https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#formulas
