Year 1 Interest
vCalc Reviewed
`"Interest"_"Year 1" = f( "L" , "i" , "n" )`
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UUID | 59f867e8-56dc-11e3-9569-bc764e049c3d |
This Year 1 equation provides the amount of interest paid in the first year on a fixed interest loan. This is useful for approximating the tax deduction for the first year.
INPUTS
The input parameters are:
- L - the Principle loan amount
- n - the number of months in the duration of the loan
- i - the annual interest rate
This equation, Year 1 Interest, references 2 pages
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This equation, Year 1 Interest, is used in 8 pages
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