I added a field to calculate total interest paid on a loan and it is not calculating properly. Can someone show me what I am doing wrong? Thanks!
On the following site:
When you enter $500 for the principle, 10% for the interest, and 3 years for the terms, you get a payment of $16.13 and total interest of $80.81.
For mine, when I enter those same numbers, I get a payment of $15.28 and total interest of $50.08.