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It costs $510 to finance the desk, which means you pay an additional $60 when doing it that way.
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What is the math definition of principal?
The "principal" is the sum of money invested or borrowed, before interest or other revenue is added, or the remainder of that sum after payments have been made. In math, this applies to finance.
How do you calculate total amount of installment?
You need to start with total amount owed, total monthly payments, and annual interest.FORMULA:Payment = (Loan amount x Interest) ÷ (Payments per Year x (1 - (1 + (Interest) ÷ Payments per Year)) raised to the power of negative Payments per Year x Length of Loan)))Or, you could just use Excel and use the PMT function:PMT(interest_rate,number_payments,PV,FV,Type)interest_rate = interest rate for the loannumber_payments = number of payments for the loanPV = present value or principal of the loanFV (optional) = future value or the loan amount outstanding after all payments have been made. If this parameter is omitted, the PMT function assumes a FV value of 0.Type (optional) = when the payments are due. Type can be one of the following values:- 0 = payments due at end of period (default)- 1 = payments due at beginning of period
What does it mean to get a lump sum payout?
To get a lump sum payout typically involves foregoing monthly installment payments in lieu of a one time lump sum. Many people who win the lottery prefer to have a lump sum taken instead of monthly checks. Although it should be noted the lump sum is less money than if you were to add up all monthly payments, in the long run.
How many 65$ 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.
