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  • What is it for: Calculates the repayment schedule of a loan, that is, how the payments are distributed over a certain period.

  • How it works: The amount of the periodic installments and the amount that covers interest and capital are calculated.

  • Calculation: Interest rates are used to calculate the principal amount and the interest to be paid periodically.

  • Use: Useful for loans, mortgages and financing.

  • Formula: Payment = Principal * (Interest Rate / (1 - (1 + Interest Rate)^(-n)))

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