Tutorial 4: Calculating the Payment Amount on a Loan.
Enter the numbers above in the boxes below. Do not enter a number in the box next to “Compute”.
Try with different interest rates and different loan terms.
Example 4: You want to borrow $100,000 over 30 years (360 months), 12 payments a year at 9% p.a.
How much are your payments? Answer = $804.65. As follows.
