Loan annuities and repayment strategies

What this note covers

1. Build a repayment timeline
2. Solve the regular repayment
3. Find the balance after repayments
4. Determine term and the final payment
5. Measure total interest and compare strategies
6. Audit a loan answer in context
7. Worked twelve-month loan: repayment, balance and cents rounding
8. Worked flexible repayment: noninteger term, last payment and interest saved

8 sections · 10 key terms & formulas · 6 common mistakes