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How do you calculate the dollar cost of a loan When the loan is 14500 for 20 days with an annual rate of 12?
Dollar cost of loan = Amount borrowed x interest rate x (days loan is outstanding ? days in the year (360)) 14.500 * 12%*(20 / 360) = 96.67
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The annual percentage rate, or APR, does not measure the true cost of a loan, though does make up an important part of the true cost. The Effective Percentage Rate, or EPR, …measures the TRUE annual cost of a loan by incorporating the following elements into the calculation: * Annual percentage rate * Application fees * Origination fees * Points/cost reduction fees * Other lending closing costs Generally, very low APRs are presented by a number of lenders, however, the fees and/or points that must be paid at closing to obtain those fees may make the loan less attractive (especially for borrowers that don't have a lot of money to spend upfront).
The daily income of Ali that he was earning from his business is 1000000 Ten Lac rupees In 1996 to further expand his business he took a loan form Bank at 12 annual interest rate for 20 years?
That isn't a question =/.
how the annual percentage rate measures the true cost of a loan
Cassandra is repaying an installment loan of 3500 with 20 equal monthly payments of 196 each what is the annual percentage rate of the loan?
You have a single payment loan for 10500.00 for 123 days at 15 percent annual interest. Calculate interest due and the repayment amount .?
Interest =.15/365*123*10500 = $530.75 (approximate, depends on composite or accumulation terms) Total = $10,500.00 + 530.75 = $11,030.75 (approximate)
17k 300 per month
What a loan is What interest is And how the annual percentage rate measures the true cost of a loan?
What a loan is: A sum of money lent at interest. What interest is: A charge for a loan, usually a percentage of the amount loaned. And how the annual percentage rate measures …the true cost of a loan? Annual percentage rate, commonly referred to as APR, is what creditors charge consumers in order to allow them to make installment payments on rather large purchases, such as http://wiki.answers.com/Q/What_does_the_term_annual_percentage_rate_mean_for_a_loan and homes. Loan types, credit score, report, and history, can all have effects on what APR you can get for a loan.
The average annual percentage rate or interest rate on home improvement loans is around 3.99% to 9.49%. Honestly it really depends on your credit profile.
Home loan rates are calculated based on the buyers financial history, fiscal responsibility, and past home buying experiences. Martial status and age may also be factored in.
A loan calculator calculates how much money it will take you over a set period of time to pay back the loan you have taken out. It will help you find the amount of money you c…an loan and not go bankrupt.
Most websites have loan calculators on them. You can also check banking sites for loan calculators. There are so many available you should not pay to use one.
The annual rate is different for each type of loan that you could need. Rates start as low as 2.916% and peak at around 6.240% for equity and mortgage loans. For personal loan…s you can chose between a variable and fixed rate.
A secured loan is calculated using an asset as a hedge against possible default. They are generally safer loans than unsecured loans, such as money borrowed on credit cards, a…nd they usually carry lower interest rates. If someone defaults on their mortgage or car payment, then the bank can repossess the house or car to pay off the debt by selling it. The better credit score someone has, the lower the interest rate will be for a secured loan, be it a mortgage or an auto loan. Interest is calculated with an APR based on the principal amount of the loan.
There are many places which will allow you to calculate how much a loan will cost you. Most of the time, the loan provider will give you documentation with how much the actual… loan will cost you considering the loan's interest rate and the monthly payments you have chosen.
Calculating the interest rate on a loan isn't that difficult. A person will need to take the principal amount and multiply it by the term of the loan and the annual percentage… rate.
The car loan rate calculator is a tool appropriate to use when trying to buy a car. This tool is able to calculate your monthly payment if you put data such as the total amoun…t of your loan, the interest and the start date.