Almost every business and individual has an installment loan. Mortgage, car payment or a business startup loans are a few of the common ones.
So you have sat down and figured out what monthly payment you can afford, so now how do you figure out what your budget is for that new piece of equipment? By using a simple excel formula you can figure out the answer.
I have created a calculator so you won't have to do the math yourself. Click below to download the interactive spreadsheet.
In the comments below, please let me know what other questions you would like to see tackled in these blog posts.
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