UNDERSTAND A ANSWERAika ng calculated el ua ngerang?
A interest er a ta er a buil ng opening balance × monthly rate. A rest er a scheduled payment me a extra amount ng melilt a principal.
Fixed-rate amortizationPayment = P × [r(1 + r)ⁿ] ÷ [(1 + r)ⁿ − 1]
A practical example
A $300,000 el loan er a 6.5% er a 30 el rak ng soal a $1,896 er a chelsel a buil er a uchei er a tax, insurance me a fee.