Its is 1,000,000,000,000
how is line of credit interest calculated
100000 letter of credit interest rate
14.4%
14.4 %. A+
Credit Union have a savings plan where the amount of interest earned is dependant on the amount of money being saved. Further information can be found on the Credit Union website.
debit interest expense, credit interest payable for the accrued amount
Interest is charged only on the amount you actually borrow
Chase, Citi and Capital One are companies that offer interest free credit cards. These interest free credit cards most often do not stay interest free. They are interest free for a certain amount of time.
1.5 or 1.50
To calculate your interest, you simply need to multiply the loan amount by the interest rate then divide by the # of payments you will make in a year (ie monthly, biweekly, ect...) To determine what your interest rate will be you need to speak with your lending institution as it varies depending on the type of loan and your credit history.
Credit to Liabilities for the amount of the loan. Credit to liabilitites for the amount of interest on the amount of the loan.(this can be entered monthly to keep better track of) Debit to cash for the amount of the payment made. (this amount should be equal after the payments are completed to the addition of the loan amount and interest.)
The easiest thing you can do to reduce the amount of interest you incur to your credit card is to pay the bill as soon as you get it. You can also try asking the credit card company to drop your rate.