Lets say im talking out a 20 year loan for $100,000. The interest rate is 9% compounded DAILY and my repayments are made FORTNIGHTLY.
How would I workout my repayment amount?
I know how to work it out if it was compounded fortnightly and paid fortnightly, but not mismatched as daily/fortnightly. Instructions on how to do it manually and on a finance calculator would be good.
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Tags: Compounded, Daily, Finance Calculator, Fortnightly, Interest Rate, Loan, Loan Payment, Payment, Repayments, Working, Workout
One Response to “Working Out Loan Compounded Daily With Payment Fortnightly?”
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Filled Under: Mortgage Loan Modification



December 7th, 2009 at 2:21 am
use a hybrid fortnightly rate
( 1+dailyrate)^14 -1
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