I’m getting a loan getting fifteen years, but I’m not expenses things throughout initial 2 years
how can i put grace several months? Just how shall I calculate you to definitely? another thing would be the fact my personal annual rate of interest varies through the the brand new sophistication several months and you may kept months. I simply cannot place these two variables on amortization shcedule
Say, K1000 is actually financing out to users with an interest speed out of 20% in addition to a running fee off dos% with the amount borrowed. How much cash can be repaid more 5 fortnights otherwise as much as 16 week or two (8 weeks).
No. out-of costs within the fortnights Count (Kina) 5 6 eight 8 9 10 11 several 13 fourteen fifteen sixteen 17 five hundred 600 700 one thousand 1500 2000 Number will increase
That loan was made on following the factors $17000, dos.0%, percentage away from $two hundred Monthly. Approx time 8 decades. Unfortuitously, this new money are now and again over and frequently Zero. Once i use the summary for additional payment which you considering, they works out the more than repayments, but with a good $0.00 fee, it actually leaves it as the earlier months balance.