All Questions
9
questions
1
vote
1
answer
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Formula for calculating the monthly payment for a Personal Contract Purchase
How can I calculate the monthly payment for a PCP (Personal Contract Purchase) when given the variables below?
'Amount to be financed' - finance amount
APR (annual percentage rate - %)
Length of ...
- 13
0
votes
2
answers
107
views
Mathematical method to minimize weighted interest rate on a set of student loans for a given payment? [duplicate]
See image attached. I graduated back in May. Even though my loans are in forbearance right now due to COVID and I'm still in my grace period for payments, I wanted to get a head start on figuring out ...
0
votes
1
answer
172
views
How do interest calculations differ between loans and savings? [closed]
At the bank or financial institute how are the interest calculation is different from loans and savings? Are they calculated the same way?
3
votes
2
answers
272
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How to compare loans of same principal, same interest but with different tenors
I have a scenario where there are 2 loans that can be provided (assuming I am providing the loan). The principal amount is the same, 30,000 in case of both the loans. The interest is also same at 17%. ...
- 1,185
2
votes
1
answer
974
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How to calculate the effective interest rate of a loan that must be paid back with interest as lump sum
An example question asks:
Student Bank has agreed to lend you funds to complete the last year of
your degree. The bank will lend you $2,400 today, if you agree to
repay a lump sum of $4,000 in ...
- 1,290
2
votes
1
answer
4k
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Calculating total number of monthly payments in Excel using NPER and PMT?
How to calculate the total number of monthly payments given the amount of loan ($275,000), the annual interest rate (4.35%) and the number of years (30)? I'm confused because I'm trying to use the ...
- 21
2
votes
2
answers
172
views
How to calculate whether it's better to pay my education loan, or my home investment loan?
I have an education loan @ 11.5 % for 1,000,000. I can pay it in 3 years.
I am planning to make an investment by buying a home @ 10.5% for 2,200,000. Term = 20 yrs.
I am thinking if I sell the house ...
- 135
1
vote
2
answers
1k
views
Formula for recalculation of a bad loan, i.e. where payments were missed?
I need to know if exists any formula to calculate interest rate, principal interest, total amount to be paid, in the case of a bad loan.
Ex: In a bank exists a 20 year home - loan. The client was ...
- 111
0
votes
1
answer
304
views
What's the Effective Interest formula used by this loan calculator?
I used a loan calculator which gives an effective rate of 80.781 whereas wikipedia http://en.wikipedia.org/wiki/Annual_percentage_rate gives a rate of 49% for these parameters:
borrowed: 100
fees: ...
- 109