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October 24, 2014

October 24, 2014

Posted by **chan** on Saturday, October 15, 2011 at 5:50am.

- QM -
**DrBob222**, Saturday, October 15, 2011 at 8:40pmI would make three calculations. The math guys probably have a formula that works it all at once.

First payment is 10,000.

Interest for Jan and Feb = 2 months

150,000 x 0.12 x (2/12) = 3,000 interest and we pay 10,000.

Net loan at end of Feb is 150,000+3000-10,000 = 143,000

Continue in this style to find the last payment.

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