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How to Calculate Loan Payment.
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How to Calculate Loan Payment.

Rosemary Njeri

A loan is when money is given to another party in exchange for repayment of the loan principal amount plus interest.

When you’re considering accepting a business loan, it’s important to develop a repayment plan.

Formula to calculate loan payment.

Calculate Loan Payment.

Example:

Calculate your loan payment if the principle amount is $ 4000 and the annual interest rate is 10%.

Calculate Loan Payment.

Therefore, the loan payment is $ 3,333.

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