Ok Experts:
Please help a newbie out. Here is the scenario:
Principal of a loan is $90,000. Annual Interest rate is 7%. My monthly payment is $698.77.
What is the formula for calculating how long it will take me to pay this loan off?
Been banging my head against the wall trying to figure it out. Please help...Thanx in advance!!
Please help a newbie out. Here is the scenario:
Principal of a loan is $90,000. Annual Interest rate is 7%. My monthly payment is $698.77.
What is the formula for calculating how long it will take me to pay this loan off?
Been banging my head against the wall trying to figure it out. Please help...Thanx in advance!!