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Home » Loans

How to Calculate Personal Loan interest rates?

Submitted by on August 1, 2010 – 6:55 amNo Replies


A web user asks, Hello am trying to compare the interest rate of lenders in a spread sheet..need help trying to work out the correct calculation..

for example

Car costs = $15,750
Lenders fixed interest rate = 11.74%
Loan term = 5 years

now how do i calculate the total paid interest?

Can you help them out? Post your advice!

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