This program calculates the remaining balance on a loan after a regular number of repayments, the annual number of repayments, the amount, the nominal interest rate and the number of repayments after which we wish to obtain the remaining balance.
Example
John got a loan of $ 6,000 at 16% interest. He pays back $ 550 per trimester. If he made ten repayments, how much does John still have to pay?
Example
John got a loan of $ 6,000 at 16% interest. He pays back $ 550 per trimester. If he made ten repayments, how much does John still have to pay?
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