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#1 Re: Help Me ! » Struggling with calc of interest compounding monthly » 2013-06-03 19:56:21
Thank you Bob Moderator for referral to the appropriate pages on your site.
And thank you Steve B for not only giving me the answer, but showing and explaining the method. You rock !!!
That's exactly what I needed to know.
In the meantime I came across a "calculator site" which gave me exactly the same answer, so you calculation was perfect.
The difference is though, that because you showed your method, now I know how to do it myself in the future.
Thanks again. Soooo much appreciated.
Mezzlepop 
#2 Help Me ! » Struggling with calc of interest compounding monthly » 2013-06-02 19:41:03
- mezzlepop
- Replies: 4
Hi,
This is my first time on this site. Amazingly clear explanations but I'm embarrassed to say that I still can't work out the calculation below. Not sure if I should post this in 'members only' area or in this area? So I sent it to both.
I will certainly return to the site and definitely be thanking anyone kind enough to assist with an answer and workings 
Thanks, Mezzlepop
$200,000 loaned at 14% per annum "in arrears calculated and charged on monthly rests", for 5.5 years.
No repayments made. Looking for total amount repayable at the end of 5.5 years.
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