Principal Balance $80195.00
Simple interest at 10%
Payment amount 913.46
Interst beginning 09-07-2006
First Payment 08-01-2007
2007-06-18 06:17:04 · 4 answers · asked by Charlie K 1 in Business & Finance ➔ Personal Finance
is this a loan or an investment????
btw no such thing as simple interest only on paper
2007-06-18 07:57:03 · answer #1 · answered by me 2 · 0⤊ 0⤋
Going a year with no payments will increase your beginning balance so it will take you to approx 7/1/23 or 191 payments
Your balance when you start to pay will be about 87,134.15. Total interest after you start payments will be 87,253.11.
2007-06-18 14:20:49 · answer #2 · answered by shipwreck 7 · 0⤊ 0⤋
This really depends on how long the mortgage term is. All of this should be on your loan contractual agreement. Please go over it if you have not gone through the closing yet to make sure that you are comfortable with the terms and conditions.
2007-06-18 13:42:55 · answer #3 · answered by Shelliebit 2 · 0⤊ 1⤋
Read your credit agreement, legally it has to tell you this information.
Did you not read it before you signed up?????
2007-06-18 13:27:28 · answer #4 · answered by nooka 4 · 0⤊ 1⤋