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What is the monthly interest payment on 10 thousand dollars borrowed against a credit card with 19.9 percent APR?
Your monthly payment, assuming you have quoted the interest rate correctly, should be $165.83 if you pay this off in one year (12 monthly payments)
What is the monthly interest payment on 30 thousand dollars borrowed against a credit card with 30.0 percent apr?
$750 / month in interest rates.
What is higher APR or interest rate in mortgages?
The APR is the rate plus certain fees over the life of the loan. If there are no fees, the rate and APR are the same. If there are fees, the APR is higher than the rate. The more fees, the higher the APR.
Is fixed interest rate better than variable interest rate for banks?
Yes, because a variable interest rate can go up as high as 9% APR when you can get a fixed APR of 3.5%. Also with variable interest your payments will always jump around and with fixed your payments are what you sign.
What is the interest rate for Lowes credit card?
The annual percentage rate for a Lowes credit card is 21.99 percent. The APR for a Lowes Project card is 7.99-17.99 percent. The percentage variable is based off credit qualifications.
What is the APR on a monthly interest of 10.24 percent?
If it is 10.24% (per month), then the APR is 222%, but if it's 10.24% compounded monthly, then APR is 10.7345%
How do you calcutate an APR?
APR is calculated by multiplying the amount of the loan by the interest rate. Next divide by the length of time of the loan to get the monthly APR amount.Ê
What is the monthly interest payment on 10 thousand dollars borrowed against a credit card with 19.9 percent APR?
Your monthly payment, assuming you have quoted the interest rate correctly, should be $165.83 if you pay this off in one year (12 monthly payments)
Gretchen just got a new credit card that offers an introductory APR of 4.8 for the first 4 months and a standard APR of 15.6 thereafter. If interest is compounded monthly what is the periodic interest?
The monthly rate is 1.22%, approx.
What is the monthly interest payment on 30 thousand dollars borrowed against a credit card with 30.0 percent apr?
$750 / month in interest rates.
Calculate the amount of interest on 2 000.00 for 4 years compounding daily at 2.25 percent APR From the Monthly Interest Table use 1.094171 in interest for each 1.00 invested?
The question cannot be answered. 1.094171 monthly is not equivalent to 2.25 APR. So the question contains inconsistent information.
What is higher APR or interest rate in mortgages?
The APR is the rate plus certain fees over the life of the loan. If there are no fees, the rate and APR are the same. If there are fees, the APR is higher than the rate. The more fees, the higher the APR.
What is the formula for finding monthly payment when you know the interest and principle amouint?
total cost= monthly payment [1-(1+APR)to the power of -n/APR
What is the most useful measure of interest rate?
APR is the most useful measure of interest rate.
Which yields more 8 percent apr compounded monthly or 8.5 percent compounded semi-annual?
8% compounded monthly is equivalent to an annual rate of approx 152% . 8.5% compounded six monthly is equivalent to "only" 17.72% so the first is clearly larger.
When pertaining to financial loan what does APR stand for?
Annual Percentage Rate (of the interest rate)
Is fixed interest rate better than variable interest rate for banks?
Yes, because a variable interest rate can go up as high as 9% APR when you can get a fixed APR of 3.5%. Also with variable interest your payments will always jump around and with fixed your payments are what you sign.
