Explain your answer and compute what your return would be.
2007-09-10 04:17:02 · 15 answers · asked by lolliepop 2 in Business & Finance ➔ Credit
I wouldn't loan a friend money. Very bad for the friendship. If a friend needed a $100, I'd give it to them.
2007-09-10 05:34:55 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋
20% to be paid in full in six months. You would get $10 interest. (Principal x Rate x Time) 100 x .20 x 6/12 = $10
2007-09-10 04:25:55 · answer #2 · answered by Gary 5 · 0⤊ 0⤋
I would not loan a friend money if I could help it. If I did I wouldn't charge interest.
2007-09-10 06:09:45 · answer #3 · answered by sweetbeesma 5 · 0⤊ 0⤋
Depends on how trustworthy your friend is, and how long until the loan will be repaid. Can range from 0% to 45%.
2007-09-10 13:58:04 · answer #4 · answered by Michaelsgdec 5 · 0⤊ 0⤋
First, never loan a friend money! Totally not a good idea. But, if you do then skip the interest rate, there a friend, right?
2007-09-10 04:20:40 · answer #5 · answered by Anonymous · 2⤊ 2⤋
They can't be a very good friend if you want to change him/her interest, what would you think if you wanted $100 from your friend and he/her ask you to pay interest. anyhow about 10% would be about right.
2007-09-10 04:32:57 · answer #6 · answered by Baz 5 · 0⤊ 0⤋
I wouldn't charge an interest rate... seeing how they are a friend.
2007-09-10 04:26:41 · answer #7 · answered by KT 2 · 0⤊ 0⤋
I would not charge a friend any interest at all - they are a friend - however - I would ensure that the conditions of repayment is very clear eg repayment installments and time frame
2007-09-10 04:21:50 · answer #8 · answered by dolphindaddy 2 · 1⤊ 1⤋
the best way to loose a friend is to lend them money, don't do it, or if you think of it as a gift, if it is paid back good, but if it's not so be it, no interest
2007-09-10 04:29:17 · answer #9 · answered by willliam d 2 · 0⤊ 0⤋
I would not charge interest... If they are a true friend I would ask them to give it back as soon as they could.
2007-09-10 04:21:37 · answer #10 · answered by bonstermonster20 6 · 2⤊ 1⤋