Tagged Questions
1
vote
2answers
65 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)
...
2
votes
3answers
158 views
Quick formula for calculating total interest in my head
Is there a rough, quick and dirty, formula that I can do in my head for calculating the total interest on a loan? Something like:
TotalInterest = Principal * (Yearly Interest% * Term In Years / 2);
...
-1
votes
1answer
127 views
How to read interest/principal payoff table
I have this data (modified dates) in my transaction history: (APR=.99%)
I have made 4 payments till date.
4th Paid on: 06/25/2001 $1000.00
Principal $1000.00 //Paid ...
2
votes
1answer
101 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 ...
-1
votes
1answer
86 views
Credit Card: Charge from the bank
Let's say I have a debt of $50.
Let's say I don't pay for my credit card debts. Next month they will charge me interest upon the money I should have paid ($50 + interest).
Now let's say I pay more ...
8
votes
3answers
1k views
First time home hunters. Pay debt or save for down payment
tl;dr
We want to buy a house.
We've done all the pro's and con's of home ownership.
We have 1/2 a down payment and some highish loan payments
Would it be wiser to pay down the loans and go ...
8
votes
1answer
610 views
Why are my auto loan payments calculated differently than my mortgage payments?
Last year I got a home loan that follows the standard Rule of 78s amortization schedule. I can easily predict how much of my mortgage payment will go to interest and how much to principal.
A few ...
4
votes
2answers
237 views
Paying off loans early, or is there some way to reduce extortionate interest charges?
I bought a car about 2 years ago on finance. The car was priced at £11k and I was very quick to jump at the chance rather than thinking.
Over the 5 year period I'm paying over £18k in total, thats ...
11
votes
7answers
2k views
Saving $1,000+ per month…what should I do with it?
I am able to save $1,100 a month, after all expenses and after paying the minimums ($225 a month on my 2.24% and 3.25% student loans). I want to make smart decisions with my money, but am not sure ...
