All Questions
10
questions
21
votes
9
answers
6k
views
What would be a recommended interest rate for an unsecured loan to individuals with mediocre credit rating and income close to expenses?
I have a friend whose new wife is paying an absurdly high interest rate on her auto loan. They've asked if I was willing to loan them money at a more reasonable rate to pay off that loan and have ...
- 1,206
3
votes
2
answers
304
views
Calculating Annuities With Different Compounding period and Interest Period
Can anyone Help me solve this?
In July 2010, Mike deposits $100 semiannually into an account compounding quarterly at 7% nominal annual interest for three years.
In July 2013, he increases the ...
- 31
4
votes
2
answers
3k
views
How does the amount of down payment of a car affect loans/interest?
My credit rating is poor but I'm looking at a car that is around 27,000. If I have a large down payment (40%) to put towards the purchase of the car would I still get approved for a loan for the ...
- 41
2
votes
1
answer
1k
views
Why does my interest charged (on loan) fluctuate from my own calculations?
I just want to know if I am calculating the interest correctly. Or is the interest rate is fluctuating slightly? Its not really that big of a fluctuation (we're looking at a range of 5-10 cents off). ...
- 33
-6
votes
2
answers
1k
views
Why is there so much interest on home loans?
Search around the internet for current mortgage rates and play with some of the amortization calculators. You'll see that at the end of the payment schedule you will be paying almost an equal amount ...
- 121
8
votes
5
answers
4k
views
Paying off a loan with a loan to get a better interest rate
I've never had credit or a loan till recently when I bought a new car. This has recently given me a much better credit rating after having the loan for a year with 5 years to go and 2 credit cards ...
- 1,199
0
votes
1
answer
108
views
Lowest Interest Options for Short-Term Loan
I am looking for a short-term loan in the amount of $15k to buy some household items.
I will be able to return the money in full by 3 months
I have a credit score of 760+.
Currently, I am seeing ...
0
votes
1
answer
184
views
Shouldn't nominal interest rates be illegal? [closed]
First of all, I'm really new to anything related to financial math and the like, but I just can't get my head around these nominal interest rates. The way I'm getting it is that it's just a euphemism ...
4
votes
4
answers
428
views
What to do with this cash- pay off ONE card, or pay down a few?
I've got a $5k payment coming through with about $12k in CC debt, over 4 cards. 1 card is at $3000 (total line is $4k), 14.8% interest rate, another at $3450(total line is 4.5k), 19.3% interest rate, ...
- 41
2
votes
3
answers
1k
views
Interest rate question
I'm having a little trouble figuring this out. Suppose I took out a loan with the following terms:
Loan Amount: 1,000
Interest Rate (APR): 10%
Compound Frequency: Monthly (12 compounding periods)
...
- 265