1
vote
0answers
51 views

How to calculate interest charged on my loan given a series of dates & payments?

I want to calculate the interest rate payed for this loan using Mathematica. The initial amount was of 12000€, then they asked to pay 240€ for opening the loan and another 870€ for the insurance for ...
0
votes
2answers
203 views

Formula for how to distribute a loan payment between multiple loans such that the remaining principal accrues the least interest?

Assume 4 loans (Balance @ p.a. interest): $10,000 @ 5.5% $5,500 @ 7.25% $2,000 @ 5.5% $1,000 @ 4.5% If I am looking to pay $7,250 towards principal only, how would I calculate the ...
0
votes
1answer
47 views

How can I calculate minimum payment on quick loan? [closed]

I am working on calculator for quick loans. Client can select how much he will pay monthly. Base on it payment schedule will be calculated. Payment interest depends on 1 payment period. Number of ...
0
votes
3answers
58 views

Personal Loan issuer online service

I have chunk of money that I would like to loan to my brother. I would like to charge him interest same as banks do. Is there a website or online service where I can enter the "loan" amount, ...
2
votes
2answers
109 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 ...
2
votes
1answer
140 views

How to calculate outstanding Graduate Plus Loan balance currently in deferment?

Can someone tell me what I'm doing wrong here? If I have a $56,500 loan and the interest rate is 7.9% how much will I owe after 8 months? I thought this would be fairly simple. I would ...
0
votes
2answers
301 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 ...
-1
votes
1answer
203 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: ...