The formula for calculating the monthly payment on a loan is :
r is the monthly interest rate, C is the amount borrowed.
This is the formula used by the calculator to determine the maturity of any type of loan: real estate, consumer ...
The amount of the monthly payment of the insurance of a loan, is obtained through the following formula: `M=(C*t/12)`, where t is the annual rate of insurance and C, the capital borrowed.
This is the formula that the calculator uses to evaluate the insurance for a loan