Hi,
I am struggling to create a loan calculator where it takes in to account different values/fees that get added on a monthly/yearly basis. This probably makes no sense at all. but here's a break down of what I am trying to create using the info below.
If I lend someone today a loan for:
$100,000
What do they owe me?
Please note: This would be calculated based on the assumption that a person makes no payments at all.
Thank you
I am struggling to create a loan calculator where it takes in to account different values/fees that get added on a monthly/yearly basis. This probably makes no sense at all. but here's a break down of what I am trying to create using the info below.
If I lend someone today a loan for:
$100,000
- Comes with an initital establishment fee of $1000
- set up fee of $500
- admin fee of $200
- monthly fee of $100
- an interest that is:
- 7.2% per annum
- It is calculated daily and charged monthly
- Annual compliance fee: $198
- 5 years
- 10 years
- 15 years
What do they owe me?
Please note: This would be calculated based on the assumption that a person makes no payments at all.
Thank you