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Interest calculation
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 -- saziz ------------------------------------------------------------------------ saziz's Profile: http://www.excelforum.com/member.php...fo&userid=6350 View this thread: http://www.excelforum.com/showthread...hreadid=543875 |
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