As you may see from my previous questions I am reading a booklet about loan calculations and not really understanding it.
This is the booklet and I am looking at an example on page 35
Please could you explain how they calculate a monthly repayment of £206.67
I used this formula here
and entered 0.01125 for the montly interest rate and 50 for the number of months and got a loan repayment amount of 196.