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04-23-2009, 03:30 PM | #31 |
Take a Chill Pill
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Flopnuts help me out here.
Lets say you get a loan for $3400 You put $500 down in a down payment, and have 10% compound interest. You pay $400 a month back on the loan. What does that 10% compound interest mean? |
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04-23-2009, 03:31 PM | #32 |
Burger Meister Meister Burger
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Left foot, right foot, left foot, right foot, right foot, left foot, right foot, left foot, right foot, left foot, right foot, left foot, right foot, left foot,
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04-23-2009, 03:32 PM | #33 | |
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Quote:
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04-23-2009, 03:32 PM | #34 |
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04-23-2009, 03:33 PM | #35 |
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This is a safe place Nut.
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04-23-2009, 03:33 PM | #36 |
oxymoron
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04-23-2009, 03:33 PM | #37 |
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The only difference between that and a normal interest loan is, you pay interest on your interest with a compounded interest loan.
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04-23-2009, 03:34 PM | #38 |
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i just farted
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04-23-2009, 03:37 PM | #39 |
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Keep this in mind Buck. In the beginning, your interest is higher because you owe more. You're paying interest on that interest right out of the gate. 10% is good, but that is going to raise it probably by around 3% over that time frame from a more conventional loan. That's a total off the top of my head guesstimate. It could be more, or less. Bottom line, pay that ****er off asap. Your credit is better than that rate.
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04-23-2009, 03:37 PM | #40 |
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I want to lock Paris Hilton in my closet. That way, when I have a bad day, I can pull her out, spit on her, punch her in the face, and put her back.
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04-23-2009, 03:37 PM | #41 |
Take a Chill Pill
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04-23-2009, 03:38 PM | #42 |
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sharting is awesome.
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04-23-2009, 03:39 PM | #43 |
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It's not going to be that much. Give me a minute.
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04-23-2009, 03:41 PM | #44 |
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$3679.89 over 9 months. Here's a link to a compound interest calculator. You can play with the numbers. Obviously you want to divide that $400 into the total to get the amount of months for payoff.
http://math.about.com/library/blcompoundinterest.htm |
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04-23-2009, 03:42 PM | #45 |
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I have a HUGE dump brewing. I may trade this dump for the Chiefs 4th round pick. It could be the new starting TE.
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