im loaning 100k out for 45-60 days for 3% of the loan amount which will be 3000.00 how would i calculate that to rate of return or what apr whould it equate to.? db
2006-08-07 09:09:51 · 7 answers · asked by salona 1 in Business & Finance ➔ Investing
Geezzz.
Divide the yield, .03 by 60 days or the correct term.
Multiply that by 365.
You do the math. It's a fair %, but I could do better at a bank.
2006-08-07 09:17:37 · answer #1 · answered by ed 7 · 0⤊ 0⤋
45
2006-08-11 06:41:42 · answer #2 · answered by marc g 1 · 0⤊ 0⤋
None of the above answers are correct -- they don't account for compounding. To get an approximate value, use the following formula:
(P(end)/P(start))^(365/days) - 1
where
P(end) = the ending value -- 103,000
P(start) = starting value -- 100,000
days = number of days
The APR will be:
27.09% if you are paid back in 45 days
19.70% is you are paid back in 60 days
You can feel free to call yourself a loan shark.
2006-08-07 09:28:12 · answer #3 · answered by Ranto 7 · 0⤊ 0⤋
I hope you have good security on the loan.
because if it is 45-60 days they might say how about 90 days
or keep stringing you along.
2006-08-07 10:33:26 · answer #4 · answered by brainiac 4 · 0⤊ 0⤋
Go to finaid.org and click on calculators. They have a number of calculators there to help you work out this type of thing.
2006-08-07 12:07:26 · answer #5 · answered by inuvikrx 2 · 0⤊ 0⤋
divide annual percentage rate by 12 this will give you the monthly percentage rate. 3%/12=0.25% monthly
2006-08-07 09:15:08 · answer #6 · answered by Pobept 6 · 0⤊ 0⤋
that would be equivalent to 18% approx. per year.
2006-08-07 09:16:58 · answer #7 · answered by jlcaooscl 3 · 0⤊ 0⤋