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It costs $510 to finance the desk, which means you pay an additional $60 when doing it that way.

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Michael Scalise

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Q: You can buy a desk for 450,dollars or you can pay 150 dollar down and the remainder in 12 payments of 30 dollars.a. What is the total cost of the desk on the installment planb. How much of the total cost is the finance charge?
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What is the math definition of principal?

The "principal" is the sum of money invested or borrowed, before interest or other revenue is added, or the remainder of that sum after payments have been made. In math, this applies to finance.

How do you calculate total amount of installment?

You need to start with total amount owed, total monthly payments, and annual interest.FORMULA:Payment = (Loan amount x Interest) ÷ (Payments per Year x (1 - (1 + (Interest) ÷ Payments per Year)) raised to the power of negative Payments per Year x Length of Loan)))Or, you could just use Excel and use the PMT function:PMT(interest_rate,number_payments,PV,FV,Type)interest_rate = interest rate for the loannumber_payments = number of payments for the loanPV = present value or principal of the loanFV (optional) = future value or the loan amount outstanding after all payments have been made. If this parameter is omitted, the PMT function assumes a FV value of 0.Type (optional) = when the payments are due. Type can be one of the following values:- 0 = payments due at end of period (default)- 1 = payments due at beginning of period

What does it mean to get a lump sum payout?

To get a lump sum payout typically involves foregoing monthly installment payments in lieu of a one time lump sum. Many people who win the lottery prefer to have a lump sum taken instead of monthly checks. Although it should be noted the lump sum is less money than if you were to add up all monthly payments, in the long run.

How many 65$ payments until I hit 875?

About 13 payments.

What is the monthly repayment for a 15 year 10000000 mortgage loan finance at 8 percent per annum?

TEN MILLION! Wow! 180 payments of $94,932.33 - IF you start payments immediately - at the beginning of the month. 180 payments of $95,565.21 - IF you start payments waiting 30 days to start at the end of the month.

Related questions

What describes an installment loan?

Installment loans require monthly payments to pay the loan.

What does I01 mean?

the I means Installment, the 01 means that you are making your payments on time.

Does a bankruptcy attorney usually accept installment payments?

No bankruptcy attorneys usually don't accept installment payments, but, due to the economy there are a few which have made it possible for you to do at least two payments, the first when you meet and then the the last one before papers are filed. Desperate times has brought about desperate measures.

Paying for an item over a period of time with series of small payments?

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What is the maximum number of payments that can be made toward paying off an installment loan?


What is an installment loan?

An installment loan is a broad, general term that refers to the overwhelming majority of both personal and commercial loans extended to borrowers. Installment loans include any loan that is repaid with regularly scheduled payments or installments.

What is paying on a regular basis at a set time each month or parts of a year?

installment payments

What is the installment loan?

An installment loan is a loan that is repaid over time with a set number of scheduled payments. The term of loan may be as little as a few months and as long as 30 years. A mortgage, for example, is a type of installment loan.

The idea of making a small down payment for an item and making regular payments on it is called the?

Installment plan

What is a payment on a loan is divided into equal payments over a set period of time called?

installment debt

The idea of making a small down payment for an item and making regular payments on it is called the .?

Installment plan

What does an installment loan mean?

An installment loan is a loan paid with interest in equal periodic payments, in other words it is a loan that is repaid over time with the set number of schedule numbers.