I have a problem when I try to calculate monthly repayments on loans.
I use the formula: . . . . . This is correct!
The problem is that my calculations are slightly higher than those on the bank sites.
With those values I get a monthly repayment of $186.28 . . . . So do I!
The bank sites get a value on $185.05 ??
What is wrong with my formula? . . . . Nothing!
As we say in The Corps, "Ya done good!"