Upon receipt of a loan, all the necessary information on the conditions of repayment and timing should you clarify the Bank's employee. However, it is worth knowing this information in advance in order to independently calculate the amount from which you have to "part" monthly. For this you need to know some rules.
1
All the necessary information about the term of the loan is contained in your contract. She will tell you a credit manager. Keep in mind that in addition to basic payments, you will have to pay the cost of servicing your loan.
2
Help you in the calculations can "Credit Calculator". This is a specialized program. You enter a digital value of the loan amount, regular payments and other information.
3
If your knowledge of mathematics allows you to try to calculate the loan period using the formula S \u003d P * (n + 1) / 24. Here s is the total interest value, P is the interest rate per year, n is the loan period.
4
Look at the contract and write such values: the amount of the monthly payment, the total amount of the loan with interest, the annual rate in percent.
5
It is worth noting that this formula is applicable to differentiated payments (every month the same repayment amount is made). With annuity payments, another formula acts: k \u003d an * (a - 1) / (AN - 1). Where k is a monthly payment coefficient, a - denominator of the progression, which is calculated according to the other formula: 1 + P / 1200, where P is the annual rate in percent, N is the loan period.
Even if your mathematical knowledge is quite high, in order to avoid mistakes, specify information from a bank employee who will make your credit.
0
1666
