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Rolex borrowed 3200 from his credit union for 4 years he was charged 9.8 percent simple interest what was his total amount he owed the credit union?
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∙ 12y ago
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Wiki User
∙ 12y ago
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I financed a vehicle for one amount now my first payment is due and the payoff amount is higher than the borrowed amount. Is that correct or legal?
Are you including the interest that is being charged on the borrowed amount? When you borrow money, say $10000, you are charged interest on that amount. So you'll end up paying far more than the $10000 you borrowed.
What does a bank charge you when you borrow money from it?
When you borrow money from a bank, you are charged interest. interest is a fee for the use of someone else's mony and is usually a percentage of the amount of money borrowed. It is charged and paid each month, week, or day on the amount of borrowed money that has not yet been repaid.
A charge for borrowed money usually the percentage of the amount borrowed is called?
That is called "interest"
What is the amount of money you will have to pay back in addition to the money you borrowed?
Interest
What does the term jumbo mortgage rate refer to?
A jumbo mortgage is an amount borrowed that is over the conventional limits. A jumbo mortgage rate is the percent interest to be paid on this inflated mortgage.
I financed a vehicle for one amount now my first payment is due and the payoff amount is higher than the borrowed amount. Is that correct or legal?
Are you including the interest that is being charged on the borrowed amount? When you borrow money, say $10000, you are charged interest on that amount. So you'll end up paying far more than the $10000 you borrowed.
What is the percent charged or earned on an amount of money?
Rate of interest.
How much do you pay back for payday loans?
It depends on the amount borrowed, the term it is borrowed over and the interest rate charged. Generally you will be charged around £30 per £100 borrowed over a 30 day term.
What does a bank charge you when you borrow money from it?
When you borrow money from a bank, you are charged interest. interest is a fee for the use of someone else's mony and is usually a percentage of the amount of money borrowed. It is charged and paid each month, week, or day on the amount of borrowed money that has not yet been repaid.
How much is 5 years auto loan at 0.9 percent interest?
That would depend on the original principal (the amount you borrowed) and how they compute interest.
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.
How is interest cost stated?
Businesses typically state interest cost as a percentage of the amount borrowed per unit of time. Examples are 12 percent per year and 1 percent per month.
A charge for borrowed money usually the percentage of the amount borrowed is called?
That is called "interest"
How much interest will Mitchell earn if he charges Vincent a simple interest rate of 3 percent?
He will earn 3% of the unspecified amount that Vincent has borrowed, over a period that is also unspecified.He will earn 3% of the unspecified amount that Vincent has borrowed, over a period that is also unspecified.He will earn 3% of the unspecified amount that Vincent has borrowed, over a period that is also unspecified.He will earn 3% of the unspecified amount that Vincent has borrowed, over a period that is also unspecified.
What's a fair amount to charge a friend for a small loan?
A small loan to a friend must be charged relatively to a lower interest rate of about 7% of the money borrowed.
What is the total amount of money owed if 1250 was borrowed for four years at 3.5 interest?
What is the total amount of money owed if $1,250 was borrowed for four years at 3.5% interest?
When referring to a loan how to do spell principle?
For loans, the primary amount is the principal, which must be repaid in addition to whatever interest is charged. Until the principal is completely paid, the loan agency will normally continue to charge interest.
