[access-uk] Re: Calculating APR on a loan
- From: "david pritchard" <wd.pritchard@xxxxxxxxxxxxxx>
- To: <access-uk@xxxxxxxxxxxxx>
- Date: Wed, 25 Apr 2012 21:29:49 +0100
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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