Tagged Questions

1
vote
2answers
64 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
1answer
121 views

Any smart way to get the interest down on our student loans?

Trying to figure this out. I have a student loan $24,000 at 6.55% with Nelnet, and my wife has $48,000 at 5.2% with Mohelo. We have a home worth $220,000 with $40k in equity, and the rest at $180k at ...
12
votes
4answers
537 views

Can someone help me understand my student loans?

I have more loans than these but I am wondering how to handle these three (all with the same bank): 3%, last payment ~$36, current balance $6153, original amount $5500, payoff balance $6170 2.5%, ...
0
votes
2answers
141 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
118 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: ...
6
votes
7answers
352 views

How smart is it really to take out a loan right now?

With the economy in its current state (i.e. horrific), interest rates on loans are very low right now. I have heard people say that right now is a 'good' time to take out a loan, and that it is a ...
1
vote
2answers
210 views

How to structure a loan for my owner-financed business sale, so we are paid sooner than later?

My wife and I are in the process of selling our business to a buyer. We have agreed on an amount to sell the business for, and to owner-finance the balance. The buyer has already taken over ...
10
votes
7answers
440 views

Are Kiva or other microlending institutions a decent way to improve overall yield?

Have you used Kiva.org, Microplace.com or any other microlending institutions? Any positive or negative experiences? Does this seem like a decent way to improve overall yield, assuming I'm willing ...