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What is the definition of an amortized loan?
An amortized loan is just a basic loan where the principal and interest are paid on a monthly basis. Usually, the majority of the interest is paid first, then the principal.
Am i required to provide my social security number when applying for credit?
Yes. Your SSN is used to pull your credit report. If the loan is granted, it is then used to track your relationship with the bank and report interest paid (if the interest is tax deductible).
Does and outstanding credit card loan that hasn't been paid ruin your chance of co signing for a car loan?
If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.
What is a discounted bank loan?
it is when interest is paid in advance at the beginning of the loan term on a discount loan
How much is the interest rate on 14289.00 at 3.5 percent for five years how much will you pay in interest on a loan?
The interest rate is given in the question. It is 3.5%.The amount of interest paid on the loan depends on how much of the loan (if any) is paid back during the period of the loan. If there are no interim payments, the total interest at the end of 5 years is 2681.85 approx.
How much interest will be paid in 1 year for a loan of at simple interest?
missing word
What is explicit interest?
Explicit interest is the amount of money that is paid on a loan. This means that it is a fixed amount of interest.
What is an advantage of a shorter-term loan?
less interest paid...
What is the interest rate on a 5000 loan?
an individual borrowed 5,000 forf 80 days and paid 100 in interest what was the rate of the loan use ordinary interest
Is interest paid IRS on delinquent taxes deductible?
No, personal interest is never deductible, regardless of who it is paid to.
Does cosigning a loan go on your credit report if the loan is in good standing?
Your cosigner's credit report should also reflect the loan. In this case, it should show as paid on time as agreed.
Wanda took out a personal loan for 16 000 at 9 percent simple interestHow much interest will she pay after 5 years?
Total interest paid in 5 years = 5*16000*0.09 = 7200
