# Year 1 Interest

vCalc Reviewed
"Interest"_"Year 1" =
Rating
ID
vCalc.Year 1 Interest
UUID
59f867e8-56dc-11e3-9569-bc764e049c3d

This Year 1 equation provides the amount of interest paid in the first year on a fixed interest loan.  This is useful for approximating the tax deduction for the first year.

## INPUTS

The input parameters are:

• L - the Principle loan amount
• n - the number of months in the duration of the loan
• i - the annual interest rate