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How to Calculate Monthly Loan Repayments

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How to Calculate Monthly Loan Repayments

56,030 views October 25, 2015 17:44

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ChannelMasterWuMathematics

Description from the creator

This video demonstrates how to calculate monthly loan repayments and time required to amortize the loan to half of the principle of $360,000 with an interest rate of 6%p.a.

We derive the formula for working out monthly repayments by first writing an expression for the amount owing after 2 months then use the sum of a geometric series to work out the monthly payment required.

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About this tutorial

MasterWuMathematics published this 17:44 video tutorial on October 25, 2015. It has been watched 56,030 times on YouTube.

Category
Education
Duration
17:44
Published
October 25, 2015
Views
56,030
Likes
237

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