REPAYMENTS
The
minimum amount the borrower is required to repay. Repayments may be
due monthly or fortnightly depending on your contract.
Level
repayments with a reducing interest (the common method for home loans) component is known as credit
foncier.
Monthly repayments of a credit foncier loan can be calculated with the
following formula:
monthly repayments = amount borrowed/ (1-1/(1+i^n)/i)
Where:
i = monthly interest rate as a decimal
n = number of months