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I got the answer to previous questions via the table, but what is the formula for interest...

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Finance

Igot the answer to previous questions via the table, but what is theformula for interest & principle

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3.7 Ratings (626 Votes)
Interest rate 6512 as monthly payments Thus formula for interest 6512beginning loan balance due Thus in month 1 formula for interest 651218900 10238 Principle Monthly payments interest For month 1 principal 44821 10238 34584 In the 2nd month starting loan balance loan balance at the start of month 1 principal paid in month 1 1890034584 1855416 Thus interest in month 2 65121855416    See Answer
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