Annuity is a type of repayment, which is constant over the time. Th annuity payment consists of two parts – the interest and the amortization. The ratio of the interest to amortization is gradually decreasing.

To calculate the annuity we use the following formula:

S – annuity repayment
U – borrowed sum of money
q – q = 1 + interest_rate_per_time_period
n – number of time periods (time)

## Example

We borrow 200 000$in the bank for 5 years, payable monthly, with interest rate per year. Find the monthly annuity payment. Number of periods (months): We pay per month (we have to divide the annual interest rate): We substitute into the formula: We will pay 4758$ per month.

## Calculator

 Borrowed sum of money: Annual interest rate (%): Total duration of the loan: MonthsQuatersYears Length of the payment period: MonthQuaterYear

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