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Interest Formula
Does anyone know of a formula that will calculate the amount of interest that
is in each instalment of a monthly repayment. Eg amount of borrowing £5000 repayment over 3 years interest (say) 7%. What is the capital element and the interest element of each instalment. |
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#2
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Interest Formula
Have a look at...
PPMT and IPMT Hope this helps! In article , "Allan" wrote: Does anyone know of a formula that will calculate the amount of interest that is in each instalment of a monthly repayment. Eg amount of borrowing £5000 repayment over 3 years interest (say) 7%. What is the capital element and the interest element of each instalment. |
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#3
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Interest Formula
Hi Thanks for your help
"Domenic" wrote: Have a look at... PPMT and IPMT Hope this helps! In article , "Allan" wrote: Does anyone know of a formula that will calculate the amount of interest that is in each instalment of a monthly repayment. Eg amount of borrowing £5000 repayment over 3 years interest (say) 7%. What is the capital element and the interest element of each instalment. |
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