i live in ca and have fair-good credit and plan on paying it back in less than a week.please tell me how much more money ill have to pay
2007-01-31 17:05:25 · 3 answers · asked by brian g 2 in Business & Finance ➔ Credit
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2007-01-31 21:59:33 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you have Excel, you can figure this out. Enter in different cells: $500, # of days and the interest rate. Take the # of days divide by 365 them multiply by $500. If you write the formula correctly, you can change the numbers and the amount you owe will chage.
At 15% interest, for 5 days, you'll pay $1.03 in interest.
Learn to create these models and never let a car saleman or mortgage broker ever work you again.
2007-01-31 17:19:30 · answer #2 · answered by DJSS 2 · 1⤊ 0⤋
it would all depend on what APR you are given and for how long the contract is for. For instance, a $500 loan with an 18% APR for 12 months would be around $100 interest.
2007-02-03 19:38:22 · answer #3 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋