How do I integer out what interest rate I get on my current sports car loan? My payments/term... $340.54/month; 60mth
Answers:
Need your principal go together, impossible to integer out lacking that number.
http://ray.met.fsu.edu/cgi-bin/amortize...
Go to this site. Put in your productive principal go together, Put surrounded by your 12 payments per year, Put surrounded by 60 payments, put contained by your pay-out amount. Leave everything else black and hit subtract. That will administer you your interest rate.
Good luck. I would own figure it, but you can digit it yourself near your principal.
it really should be in your daily work for the loan, usually they are around 8/9 %
It should be on your Truth In Lending disclosure.
If not, we cant numeral it out minus knowing the principle amount. (The amount you financed)
340.54$ x 60 = ur total payment
munus the total cost of the saloon duty and everything
equals thats how much u remunerated for your intrest
Remember when grandpa said, "Always read anything formerly you sign it." This is what he be discussion roughly.
Your rate should be contained by your contract.
What is the symmetry of the loan. That is needed to calc the rate.
$13,900.00
60
16.50%
($341.72)
What be your loan amount? Really, capture the contract out. You could own a down expense or taxes, fees, rustproofing, etc along beside newly the price of the vehicle.
If you own honourable credit explicitly a large rate.
If you financed $13,990, your interest rate is 16%. What you compensated for the coup¨¦ may not necessarily be what you financed near cynical equity surrounded by your trade contained by, fees, add-ons, etc.
Your allowance x 60 is your total of payments which includes interest charges. It is not your principal match.
9.2%