On a £10,000.00 loan, you\'ll repay £100.00, at £8.33 per month for 12 months. You will still have the principal loan of £10,000.00 to pay at the end of the term.
Loan
£10,000.00
Months
12
Monthly payment
£8.33
Interest rate
1.000%
Interest repaid
£100.00
Repayment mortgage
£10,000.00 equates to 12 monthly payments of £837.85 with an interest rate of 1.000% repaying £54.25 in interest totalling £10,054.25
