in how many months loan liquidate, if loan is150000 @ 10% simple monthly reducing & monthly instalment amt 835

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in how many months loan liquidate, if loan is150000 @ 10% simple monthly reducing & monthly instalment amt 835

please also tell how to calculate for some other instalment amount

2007-02-22 02:57:55 · 1 answers · asked by sam 3 in Science & Mathematics ➔ Mathematics

sorry, i just want to know what will be the intt amout upto 15 years fot the above if the rate of intt & instalment is as mentioned above

2007-02-23 02:26:31 · update #1

1 answers

It is going to be over 30 years to pay it off with that monthly payment. You can use a loan amortization schedule. you can download them for excel and other spreadsheet programs.

you can also find some online just search for Loan Amortization.

Good luck.

2007-02-22 03:07:02 · answer #1 · answered by psionne 3 · 0⤊ 0⤋