I need to know if exists any formula to calculate interest rate, principal interest, total amount to be paid, in the case of a bad loan.
Ex: In a bank exists a 20 year home - loan. The client was very correct for the first 5 years. He did not paid a cent for 2 years. Now he want to continue to pay. How is calculated the new interest for this loan?
I'm a software developer, so excuse me for the non professional language.
If this questions is asked before, can you refer me to the previous questions.
Thnx in advance.