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Q: Why do we have to pay interest on a loan?
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Related questions

Does a secured loan has a interest pay back?

Interest-yes.


What difference does it make if you get a grant or a loan?

You have to pay back the loan with interest.


Can you pay off a car loan without paying interest-?

If the total interest expense is included in the loan balance, they you'can't pay off the car without paying interest.


Financially what is interest?

When you take a loan out from a bank, or wherever, they will expect you to pay interest. This means that you pay back what you took out on a loan, plus extra money. So for example, if you took a loan out for $500, and let's say you have to pay it back with 15% interest, you would pay back $575.


What exactly is a sba small business loan?

a loan is a check of money that you eventually have to pay back with interest. you have to pay close to 2x the amount you got form the loan because of your interest come


How much would she pay in interest if the rate is 4.5 percent and she pays the loan off in 4 years?

She will pay $1,924.02 in interest.


do you have a loan for people with bad credit?

I need a loan to get a fresh start AND I will pay back a larger interest rate for the assistantance. autorize credit loan If it is for an auto, try Americredit. The interest rate is ridiculous, but you'll probably get the loan. You can get a pay day loan


If Patty is taking out a simple interest loan to buy her new 10689 car. How much would she pay in interest if the rate is 4.5 and she pays the loan off in 4 years?

She could have to pay $1924.02 in interest.


How much would she pay in interest if the rate is 4.5 and she pays the loan off in 4 years if Patty Is Taking Out A Simple Interest Loan To Buy Her New 10689 Car.?

She could have to pay $1924.02 in interest.


Does an unsecured personal loan let you pay more interest?

An unsecured loan is risky for many reasons. You may pay more interest, or if it is with someone you know maybe no interest. Read the terms and conditions you agreed to.


Patty is taking out a simple interest loan to buy her new 10689 car. How much would she pay in interest if the rate is 4.5 and she pays the loan off in 4 years?

She could have to pay $1924.02 in interest.


If Patty is taking out a simple interest loan to buy her new 10689 car How much would she pay in interest it the rate is 4.5 percent and she pays the loan off in 4 years?

She will pay $1,924.02 in interest.