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An interest rate on a consumer loan of 1.5 is most apt to be a?
Wiki User
∙ 15y ago
monthly interest rate
Wiki User
∙ 15y ago
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An interest rate on a consumer loan of 1.5 percent is most apt to be what?
monthly.
What does APR stand for?
Usually it stands for Annual Percentage Rate (used to calculate the amount of interest charged on the balance of a credit card or loan). If that doen't make sense in relation to where you saw it then it may stand for something else. Also: The nominal rate of interest is the rate used when calculating the interest expense on your loan. That's what most people consider to be the interest rate on their loan. The annual percentage rate (APR) on a loan includes some of the costs involved in procuring the loan and is meant to provide the consumer with an effective rate to use when comparing loans.
What is low interest loan?
The loan whose interest rate is low is called low interest loan. If you got a unsecured loan @ low interest rate then it would be low interest loan for you.
What is a fixed rate mortgage?
A fixed rate mortgage is a loan with an interest rate that does not change over time. Whatever the interest rate is when the loan is taken out, will be the interest rate for the entire duration of the loan.
Effect of interest rate on consumer finance?
Effect of interest rate on consumer finance?
What is different about fixed rate mortgages?
The most important difference is the interest rate on the note remains the same through the term of the loan, instead of a common loan where the interest rate may adjust.
What is the average interest rate on a motorcycle loan?
The average interest rate on a motorcycle loan is 100000
Which websites have a home loan interest rate calculator?
If you are looking for a home loan interest rate calculator they can be found on most banking websites. You can find them on websites such as bankrate and BankofCanada.
What is the average interest rate on a payday advance loan?
Payday loans are small, short-term loans made by specialist companies. According to the consumer's union, the average interest rate for these loans is 911%.
What are the average loan interest rates for a small business?
There are many variables that factor into the interest rate of a loan. For instance, the interest rate on a loan below $100,000 is actually higher than that on a loan over $100,000. Expect an interest rate between 7-9%.
What is the average interest rate for a loan in VA?
The average interest rate for a loan in Virginia is around 4.78%, but this fluctuates based on many factors. It is wise to ask your local banks to get the most accurate answer.
What is an example of an inexpensive loan and a medium price loan and a expensive loan?
An inexpensive loan is one with a 0.12 percent interest rate. A medium price loan would be about a 6.5 percent interest rate. Lastly, an expensive loan would be one with an interest rate of 15 percent or more.
