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Early settlement question
Hi
I would be most grateful for some advice on how early settlement is calculated for personal loans - I took out a £10k loan from M@S last year at 5.5% and have made 12 payments of £231.95. The total loan was £11133.60 with a current balance of £8350.20. My loan documentation is in storage and I accept that I will need to call M@S on Monday for an accurate figure but was just curious what the settlement figure would likely be as I am working on my finances tonight.
Many thanks
Tim
I would be most grateful for some advice on how early settlement is calculated for personal loans - I took out a £10k loan from M@S last year at 5.5% and have made 12 payments of £231.95. The total loan was £11133.60 with a current balance of £8350.20. My loan documentation is in storage and I accept that I will need to call M@S on Monday for an accurate figure but was just curious what the settlement figure would likely be as I am working on my finances tonight.
Many thanks
Tim
0
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Hi
Managed to find an answer using an actuarial calculator!0
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