Very OT, I know, but judging by my experience of the combined wisdom = of the
> contributors to this group, someone must have the answer for this one, = so
> apologies in advance...
>=20
> What si the formula for calculating the monthly payments for an
> interest-only-type loan/mortgage, given the period (in years or = month), the
> interest rate, and the amount borrowed?
>=20
> TIA.
>=20
>=20
(Amount borrowed * interest rate %) =3D Annual amount=20 i.e
50000 * 6% =3D 3000Then the monthly amount is (Annual / 12)
so for the above=20
3000/12 =3D 250