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# Checking monthly payment figure from an online calculator

Posted on 2014-01-06

Hi

I am looking at this online calculator and I confused where it gets its monthly repayment figure from.

Take 10,000 loan over 24 months with excellent credit (interest rate 2.64) and using flat rate of interest i get a montly repayment of 438.66 by doing this

((10,000 * 0.0264 * 2) + 10, 000 ) / 24

They get a repayment of £441. In fact their figures are always a few pounds higher. Please could you advise how they get a figure this high

Thanks a lot