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What is the total amount a borrower must pay for a loans including interest and fees?
Wiki User
∙ 9y ago
A: It depends on the loan company. Ask them & they should tell you.
-->The total amount a borrower must pay for loans (including interest and fees) is the Finance Charge.
Wiki User
∙ 9y ago
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Which statements about installment loans is not true?
Installment loans are loans on which the interest is paid first and the borrower receives the proceeds A+
What is a loan - repayment plan in which the principal plus interest is repaid at once?
Loans where the interest accrues over time and then the interest plus the principal are paid are known as "bullet" loans (derived from the theory that having to pay interest plus all of the principal at once is like taking a bullet by the borrower).
Is the interest rate high for asda loans?
ASDA loans are divided into two categories based on the amount borrowed. These categories are Little Loans and Personal Loans. The average interest rate is about 8% which is not bad but interest rates can be as high as 15% and more.
Which type of interest is most often used for longer term loans or in situation where the borrower doesnt know when he or she will pay back or at what rate?
compound
Which type of interest is most often used for longer terms loans or in situations where the borrower doesn't know when he or she will pay back or at what rate?
compound
Which statements about installment loans is not true?
Installment loans are loans on which the interest is paid first and the borrower receives the proceeds A+
Statement about installment loans is not true?
Installment loans are loans on which the interest is paid first and the borrower receives the proceeds.
When a car is repossessed does the borrower receive high interest rates on loans?
no
What is the Illinois usury law?
Limits the amount of interest a lender can charge to the borrower. In Illinois the rate is 9%. However, there are so many exceptions to usury, that the only conceivable scenario is borrowing money to purchase groceries. In Illinois, if a usurious loan is extended to a borrower, the borrower may seek damages in the amount equal to twice the interest paid on the loan. Exceptions to usury are R/E loans, business loans, loans to corporations, and many others. Read the statute to be sure.
Interest rate on motor homes?
Motorhome interest rate is the yearly price charged by motorhome financing company in order for the borrower to obtain a loans. In general term it is expressed as a % of the total amount loaned.
What are the dangers of unsecured loans?
Unsecured loans are dangerous for the lender because they are not backed by any form of collateral. Thus, for the borrower, these loans often have high interest rates -- similar to those of a loan shark.
What is a loan - repayment plan in which the principal plus interest is repaid at once?
Loans where the interest accrues over time and then the interest plus the principal are paid are known as "bullet" loans (derived from the theory that having to pay interest plus all of the principal at once is like taking a bullet by the borrower).
Is money that you loan to someone taxable?
A loan from a family member is considered taxable income. The borrower can deduct a certain amount of the interest paid. The lender will have to pay taxes on any interest earned.
Is the interest rate high for asda loans?
ASDA loans are divided into two categories based on the amount borrowed. These categories are Little Loans and Personal Loans. The average interest rate is about 8% which is not bad but interest rates can be as high as 15% and more.
What type of stafford lonas are there?
There are two main types of Stafford Loans: Subsidized and Unsubsidized. Subsidized Stafford Loans are available to undergraduate students with financial need, and the government pays the interest while the borrower is in school. Unsubsidized Stafford Loans are available to both undergraduate and graduate students, regardless of financial need, and the borrower is responsible for paying all interest.
Which type of interest is most often used for longer term loans or in situation where the borrower doesnt know when he or she will pay back or at what rate?
compound
Which type of interest is most often used for longer terms loans or in situations where the borrower doesn't know when he or she will pay back or at what rate?
compound
