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There are two calculation options, depending on what you would like to know:
Method [A] - I know how much I can afford each time: How long will it take to clear the loan?
Method [B] - I know how long I wish to repay my loan: How much will each repayment be?
Whilst every care has been made in the production of this document, Derry Credit Union Limited, or its staff, cannot be held responsible for any omissions, errors or other mistakes made herein. This document is for quotation purposes only, so as to give you, the borrower, an overview of the potential cost of borrowing. When comparing costs of borrowing, remember that other borrowers do not offer interest rate rebates!
Differences between Method A and Method B are due to rounding of fractional amounts.
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23 May 2013
