Examples: A Trade Loan a 20K from a Finanace Bank, Calculate the Repayment Plan per Month he will pay

back Monthly to the Bank

PMT Variables Analysis Variable
Amount ₦20,000.00 Per Annum Divied the Rate by 12 Months
Interest Rate 6.8% month
Term 60.00
Monthly Repayemt ₦394.14
Amount Paid @ the end of 60 Months $ 23,648.37
Total Interest Paid @ the end of 60 Months $ 3,648.37

PMT Variables Analysis Variable

Amount ₦6,000,000.00
Interest Rate 64.0%
Term 12.00
Monthly Repayemt ₦689,738.24
Amount Paid @ the end of 60 Months $ 8,276,858.88
Total Interest Paid @ the end of 60 Months $ 2,276,858.88

Goal Seek $ 689,738.24

Monthly to the Bank

te by 12 Months