- monthly payments loan
- no monthly fee prepaid debit card
pmt = pv * (r/n) / (1 - (1+r/n) ^ (-n*t))
pmt = 1000 * (0.1/12) / (1 - (1+0.1/12) ^ (-12*12)) = $11.95
pmt = 1000 * (0.1/12) / (1 - (1+0.1/12) ^ (-12*12)) = $11.95
Given a 12yrs loan of $1000 with 10% interest per annum. find monthly level repayments?
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