how do you calculate a loan payment over a period of 10 years?

Question

I'm writing a feasibility study and I'm having difficulty calculating the loan payments every year for 10 years for a loan of US$ 210,000 at 11%

Answer 1

In Excel, you can use the PMT function under formulas. It will allow you to put conditions you have it to calculate this.

Answer 2

Just make sure you calculate it by 120 months. It would be a fixed payment of $2,892.75.

Formula is as follows (excel format):

$210,000/((1-((1+(11%/12))^-120))/(11%/12))

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Answer 3

for ten years it would be $2895. fixed rate per month.( kent bank)you did not state fixed or variable so it was done with a fixed rate.