So, I have figured out a payment of 581.70 on a 100000 loan at 8% semi annually with monthly payments over 25 years.
I cant get my head around what formula to use to calculate the PV? or FV? of the 75000 left (or the 25000 paid?)
FV = PMT ((1+p)n-1)/p looks right ? but the number should be 116 months and I get something else ...
Help!! It is a basic course ... but I just can't get my head around this.
TIA
FF
I cant get my head around what formula to use to calculate the PV? or FV? of the 75000 left (or the 25000 paid?)
FV = PMT ((1+p)n-1)/p looks right ? but the number should be 116 months and I get something else ...
Help!! It is a basic course ... but I just can't get my head around this.
TIA
FF