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Henry Devin bought a new dishwasher for 320. He paid Y down and made Y monthly payments of 34. What actual yearly interest rate did Henry paid?
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∙ 7y ago
Henry Devine bought a new dishwasher for $320. He paid $20 down and made 10 monthly payments of $34. What actual yearly interest rate did Henry paid?
Wiki User
∙ 7y ago
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Henry devine bought a new dishwasher for 320.00 he paid 20 down and made 10 monthly payments of 34what actual yearly interest rate did Henry pay?
Henry Devine bought a new dishwasher for $ 320. He paid $20 down and made 10 monthly payments of $34. What actual yearly interest rate did Henry pay?
Henry Devine bought a new dishwasher for 320 He paid20 down and made 10 monthly payments of 34 What actual yearly interest rate did Henry pay?
$29.09
What is a good interest rate for debt consolidation loan?
Generally interest rate for debt consolidation remains low. But it also depends on different companies and their policies. They also lower your credit card interest payment up to 60%. By consolidating your debt you are paying one monthly payment, which is lower than all the payments you are paying to creditors. The debt consolidation agency uses this payment to pay off the actual debt and the interest on the debt.
Why might it be important to get a Lowe interest rate on a mortgage?
The shortest and simplest answer is because it saves you money. For example: (These numbers are over-simplified, they only factor in price, rate, and term. Actual mortgage numbers are more complicated.) $150,000 house 30 year mortgage 3.5% rate $673.57 monthly payment Total Payments ---- $242,485.20 $150,000 house 30 year mortgage 5% rate $805.23 monthly payment Total Payments ---- $289,882.80 $150,000 house 30 year mortgage 7% rate $997.95 Total Payments ---- $359,262.00 As you can see, even small differences in interest rate make a huge impact. At the end of the loan, there's a $47,397.60 difference between a 3.5% and 5% rate, and a $69,379.20 difference between 5% and 7%. So yes, it's very important to get a low interest rate.
What is a disadvantage of using a debt consolidation service?
According to me there is no disadvantage in getting debt consolidated. By consolidating your debt you are paying one monthly payment, which is lower than all the payments you are paying to creditors. The debt consolidation agency uses this payment to pay off the actual debt and the interest on the debt. The rate of interest you are offered by these companies always remains much lower to that of all your existing debt. With the financial process you reduce your debt burden by 50% to 60% and also before time then you yourself can pay off.
Henry devine bought a new dishwasher for 320.00 he paid 20 down and made 10 monthly payments of 34what actual yearly interest rate did Henry pay?
Henry Devine bought a new dishwasher for $ 320. He paid $20 down and made 10 monthly payments of $34. What actual yearly interest rate did Henry pay?
Henry Devine bought a new dishwasher for 320 He paid20 down and made 10 monthly payments of 34 What actual yearly interest rate did Henry pay?
$29.09
Henry Devine bought a new dishwasher for 320 He paid 20 down and made 10 monthly payments of 34 What actual yearly interest rate did Henry pay?
29.09%
What is an amortization home loan?
On a traditional loan the interest is compounding monthly. With amortization the monthly payment is split up equally between the interest and the actual house payment.
Where can one calculate the true cost of a loan?
There are many places which will allow you to calculate how much a loan will cost you. Most of the time, the loan provider will give you documentation with how much the actual loan will cost you considering the loan's interest rate and the monthly payments you have chosen.
Bought a new dishwasher for 250 paid 20 down and made 10 monthly payment of 34 What actual yearly interest rate did pay?
You paid an annual percentage rate of approximately 57.4%. Working through the math, the dishwasher was $250 if bought outright. You paid $20 at the time so you were financing $230 ($250 - $20) and made $340 (10 * $34) in payments over 10 months. The basic interest rate is 47.8% ($340/$230 - 1), however, you only paid that amount over 10 months, so the basic rate must be annualized to account for the remaining two months of the year resulting in 57.4% (47.8% * 12 / 10).
What is the monthly payment on a home on Hibiscus Island in Miami?
First you need to know the purchase price of the home and then figure out the amount of the mortgage you will take out on it. Use a mortgage calculator (bankrate.com is a good one) to estimate what the payments will be. The actual payments will depend on what interest rate you get from your lender and what expenses you choose to include in the payment, such as property tax and home owners insurance.
Why would one wish to switch to a mortgage interest only type of mortgage?
An interest only mortgage means monthly payments only go towards paying the interest and the actual borrowed amount is only paid at the end of the mortgage period, funded by something like a savings account. However, with these types of mortgages, some people have concerns about being able to pay the final amount.
What is a good interest rate for debt consolidation loan?
Generally interest rate for debt consolidation remains low. But it also depends on different companies and their policies. They also lower your credit card interest payment up to 60%. By consolidating your debt you are paying one monthly payment, which is lower than all the payments you are paying to creditors. The debt consolidation agency uses this payment to pay off the actual debt and the interest on the debt.
How do credit card companies stay affluent when so many card owners are in serious debt to them?
Credit Card companies issue terms concerning interest rates, that the user must agree to as part of the condition of being offered credit by the issuing company. If a user pays only the monthly minimum amount, required by the issuing company, the issuing company can charge a monthly interest rate that has nothing to do with the actual amount of credit used by the user. Issuing companies can also charge an Annual interest rate. In addition to interest rates, credit issuing companies can sell a debt to a Debt Collection Agency, if the user defaults on a pre-determined amount of payments. It is actually more lucrative for a Credit issuing company if a user does not pay their balance in total and only makes the minimum monthly payments
If you send two payments every month do you pay interest on both payments?
I doubt it. You would be paying down your balance and shortening the actual lenght of time you are making payments. The second payment is probably being applied to your principal and this benefits you by paying down what you owe.
Calculating a Loan Repayment?
When getting a loan, you receive a large lump sum of money at once to make a purchase such as a car or home. They are also useful if you need to pay for educational expenses such as tuition, living expenses, fees or textbooks. Before accepting a government or private student loan, you'll want to calculate the loan repayment ahead of time so you know what you're agreeing to.Principal and Interest RateThe first thing to look at for loan repayment is the actual amount of the loan, which is also referred to as the principal and doesn't take into account interest or the fees associated with the loan. The interest rate on your loan also affects the amount you'll need to repay. Interest rate is one of those factors that should determine whether or not you select a specific company for your loan.Term of the LoanThe term of the loan impacts how much money you will be paying in interest costs during the lifetime of the loan. As the principal balance gets paid down each month, the amount of interest also decreases. A shorter loan term will save you money in interest, but will require you to have larger monthly payments.Example LoanAssume a loan was taken out for $1,000 with a 7% interest rate for 12 months. The monthly payments work out to be $86.53/month, while the total interest paid during the year is $38.32. If the term is extended to 2 years, which is 24 months, the monthly payments are cut almost in half down to $44.77, but the total interest paid is also nearly doubled at $74.54.As a borrower, it is up to you to analyze your financial situation to determine whether or not the higher monthly payments will work into your budget or if you're willing to pay more in interest for the convenience of a lower monthly payment.
