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which lends at 5 1/2 percent simple interest, or another bank which lends at 5 percent compounded quarterly, at what bank is it cheaper to borrow
how to solve this what is the solution?

2007-07-06 16:04:50 · 6 answers · asked by haringmarumo 6 in Business & Finance Personal Finance

6 answers

No one is going to borrow you only $400 stretched out over 3 years.interest rate would not matter as your principle would only be $11 a month

2007-07-06 16:13:33 · answer #1 · answered by Pengy 7 · 0 0

No Bank will lend $400.00. Find out what the minimum you can borrow for 36 months. Whatever you don't need pay the loan ahead. Just make sure when the payment is due you have enough funds put aside to pay it.

2007-07-07 00:37:25 · answer #2 · answered by Anonymous · 0 0

Most FDIC banks won't write loans for less than $1000 here only the high intrest savings loan places will...

2007-07-07 02:30:51 · answer #3 · answered by Debbie W 1 · 0 0

u try to the bank low interest here

2007-07-06 23:08:18 · answer #4 · answered by senthil k 1 · 0 1

www.dinkytown.net

over 200 financial calculators online to figure out things like that, free.

2007-07-06 23:08:51 · answer #5 · answered by Anonymous · 0 0

http://www.dinkytown.net/

2007-07-06 23:07:53 · answer #6 · answered by mister_galager 5 · 0 0

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