[access-uk] Re: Calculating APR on a loan

Hi Andy,

You can use the PMT function in Excel. I can dig out an example if required.

Regards

Dave



From: ANDY COLLINS 
Sent: Wednesday, April 25, 2012 9:09 PM
To: access-uk@xxxxxxxxxxxxx 
Subject: [access-uk] Calculating APR on a loan


Hi all -

Hope I'm ok asking this here. I've been looking on some websites, and 
unfortunately their calculater tools for working out monthly repayments on a 
loan with an APR, require the sliding of a graphical bar across a grid. So, can 
anybody tell me how to work out monthly repayments using APR interest. Let's 
work with an easy example, if one borrows 10 thousand pounds, and the APR is 6 
percent, how does one work out the monthly repayments over say 1 and 2 and 3 
years? I can work out 6 percent of 10 grand, but it doesn't work that way, so 
anybody help with this one?

Thanks -

Andy

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