Timeline for Home renovation payment: Loan with interest, lump sum with discount or quarterly payment with no interest
Current License: CC BY-SA 4.0
11 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Mar 26 at 22:42 | answer | added | DJohnM | timeline score: 0 | |
| Mar 25 at 22:04 | comment | added | keshlam | It could be homework, though it's not rare for a vendor to offer this kind of choice (though the vendor may not offer all three options, and the numbers will vary). Footnote: If you take any kind of loan, it's always good to make sure that it will permit you to pay off the balance at any time without additional fees, and ideally to make sure that it allows making additional payments against principal if you happen to have the cash to do so and want to pay it off faster. | |
| Mar 25 at 21:01 | answer | added | Kate Gregory | timeline score: 2 | |
| Mar 25 at 19:14 | answer | added | Pete B. | timeline score: 0 | |
| Mar 25 at 19:10 | comment | added | Pete B. | I feel like this is a homework problem. | |
| Mar 25 at 18:01 | comment | added | littleadv | @sg552 not exactly. You pay 50K in 10 quarters, instead of 45K now. That's ~11% total interest. | |
| Mar 25 at 14:29 | comment | added | sg552 | correct. 5k quarterly interest free. | |
| Mar 25 at 14:14 | comment | added | Kate Gregory | the third option is interest free? | |
| Mar 25 at 14:13 | history | edited | Kate Gregory | CC BY-SA 4.0 |
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| S Mar 25 at 12:59 | review | First questions | |||
| Mar 25 at 21:06 | |||||
| S Mar 25 at 12:59 | history | asked | sg552 | CC BY-SA 4.0 |