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17:44
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MasterWuMathematics
How to Calculate Monthly Loan Repayments
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 ...
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