How are the total cost of a Loan calculated?
I have this data and would like to know how I can calculate the total sum that I will have to pay to the bank:
13 Months, Loan Amount: 15132.08 Dollar
APRC: 12,0500 %
Interest Rate: 0,0795
12 Months: 528.83 Dollar
At the end bayback: 10233.17 Dollar
Service Fee: 35.00 Dollar Each Month
Here's an payment plan for this loan:
I would like to know how to calculate the total to pay sum
I would simply sum up the Service Fee and The Kredit amount (35 * 14) + 15132.08 but how do I calculate the complete Interest to come to 16786.01?
How would you calculate it? Thanks