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What is the formula to calculate monthly payments on loan?  TOPIC_SOLVED

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What is the formula to calculate monthly payments on loan?

Postby Magen on Mon Sep 19, 2011 7:30 am

What is the formula to calculate monthly payments on loan? I need to use principal, annual interest rate, and loan term in years in the formula.

Example: $13,000 loan for three years, 8% interest

What is the monthly payment?

(I don't need to solve a problem, I would like to know the formula)
Magen
 
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Re: What is the formula to calculate monthly payments on loa  TOPIC_SOLVED

Postby nona.m.nona on Thu Sep 22, 2011 10:04 pm

Magen wrote:What is the formula to calculate monthly payments on loan?

(I don't need to solve a problem, I would like to know the formula)

You can find information online, such as here.
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