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How can you figure out if the quoted APR and payment are correct?
Wiki User
∙ 8y ago
The only way I know is to buy a calculator that can figure interest rates. If you have a friend who is an engineer he probably has one.
You can also keep the math simple. If you were to finance a vehicle for $12,000 @ 60mo with no interest or 0% your payments would be $200 a month. At $18,000 they would be $300, $24,000 = $400. Now depending on your current credit situation you will typically want to add anywhere between $45-$85 per month for interest. If you have really bad credit then good luck, you will be looking at substantial interest charges.
Wiki User
∙ 8y ago
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What is the monthly interest payment on 10 thousand dollars borrowed against a credit card with 19.9 percent APR?
Your monthly payment, assuming you have quoted the interest rate correctly, should be $165.83 if you pay this off in one year (12 monthly payments)
What is the formula for finding monthly payment when you know the interest and principle amouint?
total cost= monthly payment [1-(1+APR)to the power of -n/APR
What will your charge be if your payment is late and how will it affect your APR?
alot
How do you calculate APR in PHP?
<?php $month = 360; //How many month you have for payment $monthlyPayment = 671.96; //Your monthly payment $moneyBorrowed = 99000; //How much you borrowed $totalPaid = $month * $monthlyPayment; //Number of months * Monthly payment $APRequ = $moneyBorrowed / $totalPaid; //Money Borrowed * Total money paid back $APRMonthly = abs($APRequ-1); //Returns the absolute value of the monthly APR $APR = $APRMonthly * 12; // Monthly APR to get Yearly APR echo $APR; ?>
What is the formula for calculating a mortgage payment?
PMT=[P(APR/n)]/[1-(1+(APR/n))^(-nY)]
What is the relationship of an APR for an add-on rate for a one-payment loan compared to an add-on for a monthly installment loan?
What is the apr for 17% add on for two years
What will your actual finance charge depend on?
how much of a down payment, length of loan, APR....
Is APR the same as a interest rates?
Not quite. It's a figure used to express an, usually monthly, interest rate as an annual figure. APR stands for Annual Percentage Rate (of interest). It tells you exactly what interest rate will be used to add to your savings each year, despite other figures which may be quoted in adverts, whether in the press, on the TV or Radio, or in leaflets from the building society or bank. The government watchdog insists on this so that you know more exactly what you owe or what you have to pay.
How do you figure out what your APR is on a credit card?
Check the back of your billing statement, or call a representative.
How much is the typical monthly maintenance payments for a Toyota Prius?
In California with $10,000 down payment and 2.9 APR. Payment is $272 Per month (Including Tax)
How is the APR calculated?
I tried to put it in words� it be easier and make more sense for you to go online and look at the formula yourself. There are plenty of APR calculators online if you need a quick fix. To find the monthly payment for an APR loan, use an online Loan Calculator.
If a 22-day single payment loan has a periodic interest rate of 7.8 what is the approximate APR of the loan?
129.4%
