If I borrow 60 thousand dollars at 14% for 3 years how much is my monthly payment
I came up with $1,600. but I could be wrong. $60,000x14%=$8,400.00+$60,000=$68,400.00/36 months=$1,600.00
I got $2050.66. This is also simple interest. Like a mortgage. You get this by using an amortization calculator or table. They are free online.
2050... for more calculations visit http://ezeeloans.com/r2.htmlwww.ezeeloans.com
ooooooo...14% for 60k is very very high......you should rethink that one