# Thread: Calculating loan: loan is $6,897, interest is 12.375%, term is 143 months,$25/mo for

1. ## Calculating loan: loan is $6,897, interest is 12.375%, term is 143 months,$25/mo for

Hi! So here's the problem: The total loan is $6,897.00 and the interest is 12.375%. The loan lasts 143 months. If 25$ are payed every month for the first 24 months, how much would it cost per monthly payment for the rest of the loan (the remaining 119 months).