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Imagine that you borrowed $30,000 through a home equity loan with a variable rate. The loan is non-amortizing (the payment will be only interest now,
Imagine that you borrowed $30,000 through a home equity loan with a variable rate. The loan is non-amortizing (the payment will be only interest now, with the principal being paid in a lump- sum at the end of the loan term). The monthly payment will be based on the larger of: 1) The prime rate, or, 2) 6.00% APR Create a VBA function to calculate the loans payment.
Imagine that you borrowed $30,000 through a home equity loan with a variable rate. The loan is non-amortizing (the payment will be only interest now, with the principal being paid in a lump- sum at the end of the loan term).
The monthly payment will be based on the larger of:
1) The prime rate, or,
2) 6.00% APR
Create a VBA function to calculate the loans payment.
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