how would I figure that out? I tried to take 4,327.77x 10% AND ITS NOT THE RIGHT answer. Does it have anything to do with it working with a year. Im sooo confused. It seems easy but I cant do this. I need to figure out the amount on 10% interst per a month over 4 years. Please Help..
2006-11-01 06:35:51 · 2 answers · asked by Anonymous in Business & Finance ➔ Credit
Use a mortgage calculator because it's very hard to figure out compound interest manually - it's compounded every month, but also reduced by the amount you pay (assuming you make monthly payments) so you can't just multiply the principal ($4,327.77) by 10%
If you're not making monthly payments, then use an investment calculator.
2006-11-01 06:54:12 · answer #1 · answered by Mama Gretch 6 · 0⤊ 0⤋
You should take your question to your bank.
2006-11-01 14:46:31 · answer #2 · answered by Webballs 6 · 0⤊ 0⤋