how to calculate loan payments with interest rates?

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how to calculate loan payments with interest rates?

2007-02-19 14:36:19 · 2 answers · asked by worldhelper5 1 in Business & Finance ➔ Credit

2 answers

search the internet for loan calculators. You'll find that mortgage interest is figured differently than interest on a car loan, which is also figured differently than a credit card. Find the calculator that is right for your situation.

2007-02-19 14:43:46 · answer #1 · answered by Heather Y 7 · 0⤊ 0⤋

I am a mortgage broker, if you are calculating interest only payments:

100,000x9%=9000/12=750

if you are doing an amortized loan (paying interest and principle) then find a mortgage calculator online.

Good Luck

2007-02-19 22:41:08 · answer #2 · answered by batwanda 4 · 0⤊ 0⤋