Hello everyone. As you can see in the picture, a loan of €68,000 was taken out. However, a total of €105,311.81 still needs to be repaid. I don't understand the formula. 😫
I've already calculated 68,000×180×6.5 ÷(100×12), but I can't get that amount either.
Maybe there is someone here who can help me.
Greetings Luisa
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You have to calculate the interest PRO YEAR.
You need to calculate the monthly eradication
And you took the wrong interest rate
Thank you.
😫 ok then I don’t know
no, the monthly rate consists of two parts: eradication and interest
I suppose that means the EUR 586?
Do you know the amount of redemption per month?