Loan Payment - TVM Calculation Examples

Q. You plan to borrow $389,000 now and repay it in 25 equal annual installments (payments will be made at the end of each year). If the annual interest rate is 14%, how much will your annual payments be?

Open the Present Value of Annuity screen. Select solve for Payment.

Present Value: 389000

Annual Interest Rate: 14
Payment Frequency: Yearly
Number of payments: 25

Compounding Interval: Yearly
End Balance: 0

Payment Mode: End

Ans: 56598.88