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Do You will have to pay interest on credit card debt as long as you pay the minimum amount due on time each month.?
Yes, you pay interest on credit card debt if you only pay the minimum payment. If you pay the entire balance, then you pay no further interest.
Is the cost of credit determined by the interest rate loan amount and the time it takes to pay the loan?
Yes
Why are certificate of deposit interest rates so high?
Banks pay you a premium interest rates for leaving your money untoched for a predetermined amount of time.
Why is it bad to pay back loans late?
Its a loan! there is interest, so paying back on time will reduce the amount of interest you have to pay back, and it can add up, sometimes even a thousand dollars.
Do bonds pay a variable interest rate monthly?
No, bonds pay a fixed amount of interest on a regular schedule.
What is an interest payment calculator?
An interest payment calculator is used to determine the amount of interest you will be paid on an investment over a period of time or the amount of interest you will pay on a loan. They can be useful to see how much your savings will grow over time, or how much an item you purchase is really going to cost if you borrow the money to pay for it. These calculators are easily available online including on most bank websites.
How much interest only payment can one pay for a home equity line of credit?
The amount of the interest payment depends on two things which are, the loan amount and the interest rate. Normally, if your payment is set up to pay interest only then the amount of the payment would be the total amount of interest earned in one month.
What is the predetermined amount the borrower must pay for the use of borrowed money?
Interest is a predetermined amount that a borrower must pay for the use of borrowed money. Interest is calculated as a percentage of the amount borrowed.
What is the interest rate on a Gmac mortgage loan right now?
The interest rate of a Gmac mortgage loan is very variable. Based on the amount of time to pay it, the interest rate and total payout will increase with additional time.
Can you really keep paying principle payments towards your car loan and reduce interest?
By paying down the principle you decrease the amount of interest you pay on the loan. This will save you considerable on interest charges over the life of the note. If you simply pay an additional amount on the loan each month, over and above the required payment amount, you will also pay the loan off in a shorter period of time.
How much does car payment cost for a year?
That depends on the amount of the loan, the interest rate, and the time period which you have to pay it off.
Do term deposit rates pay more interest than a conventional savings account?
"Yes, term deposit rates do pay more interest than a conventional savings account because you basically lock in your money to this account for a fixed amount of time, assuring your bank that you will not withdraw the money in the set amount of time."
