2007-01-27 03:42:01 · 6 answers · asked by shadbutz 1 in Business & Finance ➔ Credit
If the interest rate is 10%, the monthly payment would be $1666. Good Luck!
Here is a link to a Interest Only Loan calculator.
http://mortgages.interest.com/content/calculators/InterestOnly.asp
2007-01-27 04:13:42 · answer #1 · answered by steffers4979 4 · 0⤊ 0⤋
Most definitely, but you are probably not going to get one. Often times, banks make a "single payment" loan to businesses like farmers and ranchers. A farmer needs a loan to purchase seed and then repays the loan when the crop has been harvested and sold. The same applies to ranchers purchasing cattle. Other businesses also work out different types of loans. Interest does accrue on the loan balance until the loan is paid off. John Doe walking in off of the street ain't getting a single pay loan.
2016-05-24 05:22:07 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It would depend on the interest being charged. Can't figure it out without the interest.
2007-01-27 03:48:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Hi!
What is the interest rate?
2007-01-27 03:53:36 · answer #4 · answered by bemeup 2 · 0⤊ 0⤋
you need to specify how many months the loan is for.
2007-01-28 17:13:57 · answer #5 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋
www.bankrate.com has some usefull tools.
2007-01-27 05:20:31 · answer #6 · answered by fleshy queen 3 · 0⤊ 0⤋