Loan Amortization

eraser147

New member
Joined
Mar 11, 2013
Messages
1
How do I calculate the interest that I would have to pay over the life of a loan if I take out a 5 year 20000 dollar car loan at 9% a year? I know that I pay monthly at the rate of $415.17.
 
Total Payment less Original Loan Amount = Interest Paid over the LifeTime of the Loan
No fancy formula required.
 
Top