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Isn't paying no interest loan by paying monthly due amount better than paying in full in term of improving credit score by having good payment history?
Wiki User
∙ 9y ago
Making monthly payments on a no interest loan is way better than paying it off in full if you are looking to improve your credit score.
Wiki User
∙ 9y ago
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What can affect your monthly car payment?
Interest and down payment.
What to include when explaining past credit history?
Description of reasonable obstacles to maintaining a good payment history (medical, job loss) and your interest in improving it.
What is monthly interest payment on a 10000 loan for 5 years at 12 percent interest?
The monthly interest is 100.
What is an amortization home loan?
On a traditional loan the interest is compounding monthly. With amortization the monthly payment is split up equally between the interest and the actual house payment.
What would happen to a monthly payment if the interest rate increased?
Either the monthly payment would have to increase or the period of the loan.
If you pay the minimum monthly payment will you owe interest?
Yup, you will owe a lot of interest, because a monthly minimum payment just keeps the card current and upto date. Whatever is your APR divide that by 12 is your monthly interest on the balance at that time.
What affects the size of your monthly mortgage payment?
Your monthly mortgage payment is affected by the amount of the loan, the interest amount, and the length of time of the mortgage.
What is monthly interest payment on a 10000 loan for 5 years at 14 interest?
$10,000 X 14% (interest) : $1,400 p.a. X 5 yrs: $7,000 over the 5yr (60 months) period. The monthly interest payment will be $116.67
What is monthly interest payment on a 10000 loan for 5 years at 9.5 percent interest?
79.17
What is monthly interest payment on a 12000 loan for 5 years at 9.5 percent interest?
95
What are the elements of a monthly mortgage payment?
Principal, interest, tax, and insurance
What is the formula for finding monthly payment when you know the interest and principle amouint?
total cost= monthly payment [1-(1+APR)to the power of -n/APR
