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If you owe 6000 on a car and u pay 6000 in under a year will you avoid the apr?
Wiki User
∙ 12y ago
No, your interest rate usually starts from the date you sign the loan agreement and drive the car off the lot. Each month your payment consists of two parts: the principal and the amount of interest accrued for that month.
For example: your loan amount is 6,000.00
Interest rate is 6%
Amortized for 1 year
Your 1st installment is 507.53 (Principal 493.68 Interest 13.85)
Wiki User
∙ 12y ago
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What is the average loans APR for mortgages?
The average loans APR for mortgages will depend on which country one is in and how long the mortgage is. In the United States the average is 5.016 APR for a 30 year mortgage and 3.122 APR for a 15 year mortgage.
What is the APR for an instant cash advance?
APR for an instant cash advance is annual percentage rate also called nominal APR which describes describe the interest rate for a whole year in terms of 12 months a year
What is the APR on a partnership card?
"There is a ""Partnership"" card offered by John Lewis Financial Services. The APR on this card is is 16.9%. The APR is the interest rate for a whole year expressed as a single percentage."
What year was James Monroe born in?
1758 (Apr 28)
Mortgage APR Calculator?
Mortgage APR Calculator Use this calculator to determine the Annual Percentage Rate (APR) for your mortgage. Press the report button for a full amortization schedule, either by year or by month.
Is there anywhere that I can get a cash advance at a low rate, say under 50% APR?
Yes, you can get a cash advance at a low rate, say under 50% APR at www.DiscountAdvances.com. Another good site you can try out is www.PayDayMax.com
Does lendingtree have better rates than local mortgage brokers?
For a 30 Year Fixed Rate, the rate is 4.25% and the APR is 4.39%. For a 15 Year Fixed Rate the rate is 3.38%, the APR is 3.61%. And a 5/1 Adjustable Rate rate is 2.63%, the APR is 3.08%.
How do you calculate apr on an adjustable rate mortgage?
APR on an ARM loan is kind of a strange question... if you wanted to calculate your APR, you could add all the variable interest rates you were charged over the course of a year, then divide that number by 12. Technically, that would be your APR.
4.9 per Annum what is the equivalent APR?
It depends on how many times the interest is compounded in a year. If it compounded semi annually then the APR would be 4.841402
What does APR stand for on a credit card?
APR stands for Annual Percentage Rate. It's the amount of interest you pay each year on the outstanding balance.
In what year was WHO Created?
The World Health Organization (WHO) was founded on Apr 07, 1948.
Why APR and APY are the same with annual compounding?
Year number is 1 and will not affect them
