Interest Formula

[Allan]

Does anyone know of a formula that will calculate the amount of interest that
is in each instalment of a monthly repayment. Eg amount of borrowing £5000
repayment over 3 years interest (say) 7%. What is the capital element and the
interest element of each instalment.

 

[Domenic]

Have a look at...

PPMT

and

IPMT

Hope this helps!

 

[Allan]

Hi Thanks for your help

Have a look at...

PPMT

and

IPMT

Hope this helps!