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URL:https://www.learndesk.us/class/6271362765160448/lesson/5d0abf92760580f1cee143b300e222f2?ref=outlook-calendar
SUMMARY:Loan Constants
DTSTART;TZID=America/Los_Angeles:20260527T190000
DTEND;TZID=America/Los_Angeles:20260527T200000
LOCATION:https://www.learndesk.us/class/6271362765160448/lesson/5d0abf92760580f1cee143b300e222f2?ref=outlook-calendar
DESCRIPTION: Formulas: Monthly payment = ( Loan amount x Loan constant) / 1000 Loan amount = (Monthly payment ÷ Loan constant) x 1000 Loan constant = (Monthly payment ÷ Loan amount) x 1000
Examples: 1. A borrower obtains a loan for $100,000 with a 6.3207 constant. What is the monthly payment? Monthly payment = ($100,000 ÷ 1,000) x 6.3207 = $632.07
2. A borrower has a monthly payment of $632.07 on a loan with a monthly constant of 6.3207. What is the loan amount? Loan amount = ($632.07 ÷ 6.3207) x 1000 = $100,000
3. A borrower obtains a loan for $100,000 with a monthly payment of $632.07. What is the loan constant? Loan constant = ($632.07 ÷ $100,000) x 1,000 = 6.3207

https://www.learndesk.us/class/6271362765160448/lesson/5d0abf92760580f1cee143b300e222f2?ref=outlook-calendar
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