How do I find the principle loan amt, monthly payment, interest paid, and total purchasing cost when all I have is negotiated price, 8% APR, 3yrs, and a $1,000 down payment?????!!!
How Do I Find The Principal Amount Of A Loan When All I Have Is The Interest Rate And Term?
You can use the interest formula for finding the principle amount. It is as follows:
P= I/rt
where
p is principal amount
I is interest amount
r is rate of interest
and T is the time for investment
P= I/rt
where
p is principal amount
I is interest amount
r is rate of interest
and T is the time for investment