Under the Statute of Frauds, contracts can be rescinded within a certain amount of time and become null and void if there is: lack of consideration, no meeting of the minds, unconstituionality, illegalities, or for any of the reasons cited therein.
To buy a laptop in Thane in installment,the monthly installments will depend with the price of the laptop.
interest
amount financed
Recurring deposit can be classified into two types: 1. Fixed Recurring Deposit: In this the installment amount remains fixed for the entire tenor of RD from the time of booking. 2. Flexible Recurring Deposit: In the installment amount can be changed during any part of the tenor as and when the customer decides to increase or decrease his installment amount.
Equal the interest rate on the note times the carrying amount of the note at the beginning of the period.
amount finaced=cash price - down payment
Finance charge
amount financed= cash price- down payment
If Nancy pays her bank 465.23 a month for 48 months, the amount paid on every installment would be 116.3075/n where n is the amount.
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Cash purchases are better because an individual pays the full amount for a good and might be lucky for a discount where as in a credit purchase the individual tends to pay monthly installments and an amount of interest in every installment
You can repay back loans in "X" amount of days. You don't have to repay the loan right away. This is the same with credit.