Loan Amount
Interest (Annual)
Number of months years
Monthly Payments
Total of Payments
Total Interest Paid

Simple Interest Amortized Loan Formula

PV * ( 1 + i )^N = PMT * [ ( 1 + i )^N - 1 ] / i

PMT = the payment per period
i = interest rate in percent per period
PV = loan / mortgage amount
N = number of periods

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