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The actual monthly payment for a 36 month loan is _______________.

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User Koushik
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The principal balance plus interest and any applicable fees.

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User Vincent Williams
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As no available data is given for calculation, we use a hypothetical situation.

Mr A loans $30000 from a company with a flat interest of $6000 (including fees and taxes) for a period of 36 months.

The actual monthly payment for his loan will be:

(Principal+Interest)/number of months

I.e. Total Repayable Amount= $30000+6000=$36000

Monthly Payment for 36 months = $36000/36 = $1000

In cases where the interest is in rates, an approximate formula will be used depending on continuous or discrete compounding.

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User WindChaser
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