Amortization and Annuity Payments

The pro version of the plugin offers the option to calculate repayments using the standard annuity formula:

P = rV / (1 – (1 +r)-n)

Where:

P = repayment amount
r = interest rate per period
C = Current loan amount
n  = number or repayments

To calculate the rate per period you need to convert the APR.

If you want to use a different formula get in contact and I will see what I can do.

£1000 £10000
1 year 36
Your monthly repayments will be at including a processing fee of 12.9%
Total you will Pay:

Change the settings and compare with the results on this page: amortization-calc.com or this one: moneysupermarket.com.

For more information on the annuity formula take a look at the Wikipedia page.

 

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