Loan amortization, repayment and annuity: calculation of monthly installments
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Determine what payments are required to repay a $100,000 loan over 20 years in equal monthly installments if interest rates remain at 9% p.a. (compounded monthly)
© BrainMass Inc. brainmass.com March 4, 2021, 5:37 pm ad1c9bdddfhttps://brainmass.com/business/annuity/loan-amortization-repayment-and-annuity-calculation-of-monthly-installments-3197
Solution Summary
The solution show all the computations to arrive at the amount of payments to repay a loan over 20 years.
$2.49