# How do you find the Monthly Payment on a $100 Loan?

Okay.. My final exam is Monday, and I've searched all over the web to find the formula of how to find the monthly payment on a $100 loan... Here is what I am given in a chart:
Loan Amount/Terms in Months/Annual %...
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Okay.. My final exam is Monday, and I've searched all over the web to find the formula of how to find the monthly payment on a $100 loan... Here is what I am given in a chart:

Loan Amount/Terms in Months/Annual % Rate:

$2,000/30/10%

$3,500/24/9%

$11,200/48/12%

$3,570/18/15%

$1,125/36/11%

$6,500/42/14%

With this information it asks for the Monthly Payment on a $100 loan, Monthly Payment, and Finance Charge, BUT I can't find the Monthly Payment or Finance charge without knowing how to find the Monthly Payment of a $100 Loan. Grrr. Frustrating.

It would be sweet if you knew the formula so I could study it. I don't need to straight answers because that won't do me any good for my test. Test is THIS Monday, so the sooner the better. THANKS!

Loan Amount/Terms in Months/Annual % Rate:

$2,000/30/10%

$3,500/24/9%

$11,200/48/12%

$3,570/18/15%

$1,125/36/11%

$6,500/42/14%

With this information it asks for the Monthly Payment on a $100 loan, Monthly Payment, and Finance Charge, BUT I can't find the Monthly Payment or Finance charge without knowing how to find the Monthly Payment of a $100 Loan. Grrr. Frustrating.

It would be sweet if you knew the formula so I could study it. I don't need to straight answers because that won't do me any good for my test. Test is THIS Monday, so the sooner the better. THANKS!

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