Loan payment

Formula

Loan payment formula
P
fixed monthly payment
L
loan
n
months
c
monthly interest rate

Formula description

A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower. The most typical loan payment type is the fully amortizing payment in which each monthly rate has the same value overtime.

Calculator (how to use calculator?)

Loan payment formula
L
n
c
P
Precision

Formula code

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References

  1. Wikepedia:Loan payment.

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