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What else can I help you with?
How much interest would you pay on 1 million loan?
This would depend on the company from which you received the loan.
How can I compute the current portion of a loan?
In order to compute your current portion of a loan, there are several elements to factor in. These would include the initial loan, amount repaid, interest rates and repayment period among others.
When mortgage payments are made in what way does the interest portion change each month and why?
Each month, the interest portion of the payment decreases and the principal portion of the payment increases. The interest decreases because the outstanding principal balance decreases each month as payments arev made. At the beginning of a loan, the interest portion of a payment is large and the principal is small. Towards the end of the loan, the interest portion is small and the principal portion is larger.
Why am I paying more interest than principal on my loan?
You are paying more interest than principal on your loan because in the beginning of the loan term, the interest is calculated based on the original loan amount. As you make payments, the principal balance decreases, so the interest portion of each payment decreases while the principal portion increases over time.
How is interest coverage used?
Interest coverages is basically a person or company's ability to pay back a loan and the interest on it. Interest coverage is used to see if a person or company is a good risk for a loan.
What lender would most likely charge you the highest interest rate on your loan?
finance company
What is low interest loan?
The loan whose interest rate is low is called low interest loan. If you got a unsecured loan @ low interest rate then it would be low interest loan for you.
Where can you find a simple interest loan calculator for an auto loan online?
Pretty much any online bank or loan office will have an online interest loan calculator. I would suggest going to the company's website that you are getting your loan through to see if they offer a calculator.
What happens to the principal portion and interest portion of the monthly payment on a loan over time?
Over time, as you make monthly payments on a loan, the principal portion of the payment gradually increases while the interest portion decreases. This occurs because interest is calculated on the remaining principal balance, which decreases with each payment. Initially, a larger percentage of the payment goes towards interest, but as the loan matures, more of the payment is applied to reducing the principal. This shift is characteristic of amortizing loans.
How do you pass journal entry if company take t he loan from bank includes interest?
debit bank accountcredit loan from bankwhen interest incurreddebit interest on loancredit loan from bank
How would a balloon payment effect interest on a loan?
how would a balloon payment effect interest on a loan
What are the key differences between an amortized loan and an interest-only loan?
The key difference between an amortized loan and an interest-only loan is how the payments are structured. In an amortized loan, each payment covers both the interest and a portion of the principal, gradually reducing the balance over time. In an interest-only loan, the borrower only pays the interest each month, with the full principal amount due at the end of the loan term.
