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I want to get something that is 1099 dollars. I do not have that kind of money right now so i was offered to pay 26 dollars a month. I get 44 dollars a month by doing chores. Can you tell me how long it will take for me to get this item? I would like to use all of them money (Say i get 44 dollars this month, i will get another 44 dollars next month. I will want to use the remaining 18 dollars i did not use from last month). Thank you sooo much!
2007-01-15 08:23:40 · 7 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
It would take you a little over 3 and a half years if you paid $26/mo for an item that costs $1099. This does not factor in if whatever this is you're getting from wherever it is you're getting this rate whether they charge interest or not, nor taxes. I will say most places will not let you pay like that if they're not making some money off of it, and you'd likely have to pass a credit check as well or have someone cosign instead. Once you factor all these things in it could very well take you 5 years to pay it off and that $1099 turns into $1600 or so... The quicker you pay it off, the less interest you'll have to pay.
2007-01-15 08:29:13 · answer #1 · answered by Geoff S 6 · 0⤊ 1⤋
1099 divided by 26 is 42.3, so if you pay $26 a month it will take you 43 months (about 3.5 years). Why don't you offer to pay $44 a month since that is how much you get per month? 1099 divided by 44 is 24.9, so if you pay $44 a month it will only take you 25 months (2 years and a month) to pay for it.
2007-01-15 16:34:18 · answer #2 · answered by ~Christine~ 3 · 0⤊ 0⤋
Assuming that tax and interest are included you would divide $1099 by $26. The answer is the amount of months you have to pay for.
2007-01-15 16:33:53 · answer #3 · answered by The Y 2 · 0⤊ 0⤋
It will take you about 25 months if I understand you correctly. You are saying that you will use all 44 dollars for each monthly payment.
You also did not mention if there were any financing charges. If this is no interest charges, it will be 25 months. If there is an interest rate, it will take you longer. Sometimes there are also no-interest deals for a limited time, then if you don't make all the payments during that period, they will take all of the accrued interest charges and dump it on your loan.
2007-01-15 16:32:03 · answer #4 · answered by chris_in_columbia 2 · 0⤊ 2⤋
It'll take you 42 months tha's 3 years and 6 months.
2007-01-15 16:40:20 · answer #5 · answered by fernando g 1 · 0⤊ 1⤋
Ever here of division?
2007-01-15 16:34:33 · answer #6 · answered by The Wizard 1 · 0⤊ 0⤋
42 Months of 26.00 and one month of 7.00
2007-01-15 16:33:21 · answer #7 · answered by rsmry_phllps 2 · 0⤊ 1⤋