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Is it illegal for ford to charge you interest on a down payment of non borrowed money?
Tommygunz11
yes
Wiki User
∙ 10y ago
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Camera cost 1138.00 you made a 25 percent down payment and borrowed the rest repaid the loan in 18 payments of 51.60 each how much was the interest charge on what you borrowed?
If you figures are correct you did not pay any interest you did not even repay all the capital.
A charge for borrowed money usually the percentage of the amount borrowed is called?
That is called "interest"
What is the interest rate and monthly payment amounts?
The interest rate is the annual charge levied on you loan. If you borrowed 100 units of local currency and the interest rate was 10% then you would have to pay 10 units of local currency each year while you owed the 100. The monthly payment amount is the amount you pay back each month to pay back the money you have borrowed. Thus if you borrowed 100 at 10% interest and were to pay this back over a year your month payment amount would be (100+10)/12 = 9.166666666666667 a month for a year.
Can you pay back the amount of the loan that you borrowed at any time?
Sort of: Loans that do not have a specific early payment or early payback option very often charge the full amount for interest and fees for the entire term of the loan.
Can you charge interest on interest in the sate of MA Someone is sending me a bill with an interest charge on it and now theyre charging interest on the interest Is this possible or even legal?
no, its called usury and its illegal
When financial institutions lend money what do they charge borrowers?
They charge "interest" which is typically a percentage of the borrowed amount, applied over the time taken to repay the loan. They can also charge fees including discounts that represent prepaid interest.
Is a charge levied for borrowing money generally earning a percentage of the amount borrowed.?
Interest On E2020 Government quiz
Is a charge levied for borrowing money generally earning a percentage of the amount borrowed?
Interest On E2020 Government quiz
Do banks encourage you to make the maximum payment?
No. They want you to make the minimum payment, that way they can charge you more interest on your loan.
What is a Charge use for using others money?
If you are using others money legally, you have borrowed it from them in the form of a loan. You loan agreement will require you to pay it back to them in regular instalments over a finite period adding a bit to your payment each time in the form of "interest" on the loan. In the end you will therefore have paid back more than you borrowed.
What are the advantages of borrowing?
If someone borrows your money, you can charge them interest depending on how much they borrowed, and how long it takes them to pay it back.
Can you charge interest on money owed to you?
Under the late payment legislation,if you are in uk,you can. and here's the link through which you can even calculate how much interest you can charge. http://www.payontime.co.uk/calculator/statutory.html
