Amortization

[derivativetrader]

<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Daee</i>
<br />Please advise me as to how do we get monthly payment if,

we have 12 months to repay Rs.1000 at 7.5% i am unable to calculate the monthly payment?

Thanks
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

Isn't this the right answer

Loan Amount = 1,000
Rate of Interest = 7.5%
Total Amount payable over 12 years = 1,075 (=1.075*1000)
Monthly payment = 89.58 (=1075/12)