Example
Monthly interest factor .0148540152
Monthly payment per thousand $15.98
Payment per month
|
Factor |
(Payment Per) |
|||
|---|---|---|---|---|
|
March 1, 82 |
35,255.93 |
|||
|
April 1, 82 |
523.69 |
39.70 |
563.39 |
35,216.23 |
|
May 1, 82 |
523.10 |
40.29 |
563.39 |
35,175.94 |
|
June 1, 82 |
522.50 |
40.89 |
563.39 |
35,135.05 |
|
July 1, 82 |
521.89 |
41.50 |
563.39 |
35,093.55 |
|
August 1, 82 |
521.28 |
42.11 |
563.39 |
35,051.44 |
|
$2,612.46 |
Difference $1,459.14 ÷ 5 payments = $291.83