HI,
I just want to know if I am doing this correct.

I have calculated 7.5% interest on $10,000.00 to be paid in 4 years.
10K times .0075 divided by 12 for months. Which would be 62.50. then
I am adding $200.00 which is going for actual balance payment.
So next month it would be 9,800 times 7.5% divided by 12 months.
Is this correct?
Appreciate your help.
Thank you

Saziz


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saziz
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