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Dr. Md Rushad Rahman
এমবিবিএস(আরপিএমসি)
,
পিজিটি(মেডিসিন)
An interest payment is based upon the annual interest rate and the principal amount outstanding for the period. Presuming that you are making interest payments only on a term loan, divide the interest rate stated in the loan documents by the number of payments made in a year. Multiply the result times the principal outstanding. For example, if you have a $10,000 loan at 10% interest, your annual interest payments would total $1,000. If you make quarterly payments, you would pay $250 each quarter.
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