Eng Keat Motor               
                                                                          Service Quality is Our First Priority            

 

Car Loan Calculation

Monthly installment shall be:

            [ Loan amount + (Loan amount x Interest x Years) ] / [ 12 x years ]

 

Example:    

 Loan amount:  

    100,000

 Interest:  

     4%

 Loan period:  

    5 years

 Total payment amount:  

 = 100,000 + (100,000 x 4/100 x 5)
   = 120,000

 

   Monthly  Installment     = 120,000 / 60 = 2,000