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At 10:24 PM 9/24/99 -0700, Leslie Herman wrote:

Hello Leslie,

>Due to the extreme intelligence on this list, there must be a
>few of you out there that can give me the algebraic equation for
>figuring out the final sum for a loan with compounding interest.
>The equation would consider rate, borrowed amount and length of
>loan that I can plug these figures into an Excel table.
>  It's been awhile since I was in high school and I was so perky
>back then.

This isn't exactly on-topic for this list, but here's your
answer:

B = A (1 + r/n)^nt - P [((1 + r/n)^nt - 1) / ((1 + r/n) - 1)]

where

     B = balance after t years
     A = amount borrowed
     n = number of payments per year
     P = amount paid per payment
     r = annual percentage rate (APR)

Hope this helps.

-Mike Rodriguez
<mikey@ma*.co*>

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