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Martha Nash
20 October, 16:29
How to calculate loan
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Ishaan Lee
20 October, 16:59
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Divide your interest rate by the number of payments you'll make in the year (interest rates are expressed annually). So, for example, if you're making monthly payments, divide by 12. 2. Multiply it by the balance of your loan, which for the first payment, will be your whole principal amount.
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