Loan with Draw Amounts
perhaps start at the 1 year point with the total amount equal to the
amount borrowed plus the accrued interest. that amount would be the
$100,000 + (6%*100,000)+ (4.5%*75,000)+ (3%*50,000)+ (1.5%*25,000) or
$100,000+ 6,000+3,375+1,500+375 OR $111,250 as the loan amount to be
repaid at 6% over your 5 years.
Huber57 wrote:
I have a question about a loan with draws.
I want to borrow $100,000 with four draws of $25K at 3 month intervals ($25k
now, $25K more in 90 days etc.). The interest rate is 6%. Repayment starts
in 12 months. It is repayable over 5 years.
I can't find any loan calculators that will help me with this. Any thoughts
would be greatly appreciated.
Sincerely,
huber57
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