Installment Loan Formula. The formula for calculating the payment on an installment loan looks like this: Payment = [ r x PV ] / [ 1 - ( 1 + r ) -n ] In this formula r is the annual interest rate divided by 12, PV is the loan amount, and n is the total number of payments on the loan. Although the formula looks complicated, a very simple example illustrates its use.Is cashnetusa a ripoff?
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