This document summarizes the terms of a $6.7 million credit/loan with a 3% monthly interest rate over 48 months. The monthly payment is $265,171.08, with $201,000 of the first payment going towards interest and the remainder to principal. In total, $6,028,212.06 will be paid in interest, making the total amount paid back $12,728,212.06 over the 48 month term. The document then lists the breakdown of each monthly payment, how much goes to interest and how much reduces the remaining principal balance.
This document summarizes the terms of a $6.7 million credit/loan with a 3% monthly interest rate over 48 months. The monthly payment is $265,171.08, with $201,000 of the first payment going towards interest and the remainder to principal. In total, $6,028,212.06 will be paid in interest, making the total amount paid back $12,728,212.06 over the 48 month term. The document then lists the breakdown of each monthly payment, how much goes to interest and how much reduces the remaining principal balance.
This document summarizes the terms of a $6.7 million credit/loan with a 3% monthly interest rate over 48 months. The monthly payment is $265,171.08, with $201,000 of the first payment going towards interest and the remainder to principal. In total, $6,028,212.06 will be paid in interest, making the total amount paid back $12,728,212.06 over the 48 month term. The document then lists the breakdown of each monthly payment, how much goes to interest and how much reduces the remaining principal balance.