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Loan with Draw Amounts
Oopsie! Reversed the amounts of the draw.
Junge wrote: Your bank is too expensive, I think. Try this PMT(0.06,5,-1*25,000*(4+0.06*(4/4+3/4+2/4+1/4)),,1) Your amount to repay after 1 year is 103,750 and the yearly payment 23,235.73 Junge "Bob I" skrev i en meddelelse ... 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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