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Old 10-23-2015, 08:55 PM
TimtheBeaver TimtheBeaver is offline
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Default Calculating monthly loan payment

Trying to calculate the monthly payment on a loan with terms of 120 months. The next line is from the contract.

1. The Lender promises to loan $20,000,000.00 USD to the Borrower and the Borrower promises to repay this principal amount to the Lender, with interest payable on the unpaid principal at the rate of 9.00 percent per annum, calculated yearly not in advance.

Please let me know what the correct payment is!

I thank anyone who answers in advance!
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Old 10-29-2015, 05:48 PM
michaelxh michaelxh is offline
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Default Re: Calculating monthly loan payment

I'm getting $253,351 a month on that. Would total around $30m in the end.
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