2007-11-03 12:59:09 · 10 answers · asked by Johnny K 3 in Business & Finance ➔ Personal Finance
I think the word you're looking for is amortization. An amortization schedule shows, based on the term of the loan and the interest rate, exactly what your periodic (usually monthly) payments are including principal and interest. The payment never changes on a fixed rate loan, but the amount of principal paid each month rises as the amount of interest drops.
2007-11-03 13:08:57 · answer #1 · answered by curtisports2 7 · 1⤊ 0⤋
I loan you $100. You pay me back $105 after 12 months. The original $100 is called the principal of the loan. The extra $5 you paid me when you repaid it is called interest. Interest is basically the fee I'm charging you for using my money for a period of time.
2007-11-03 13:50:42 · answer #2 · answered by The Professor 5 · 0⤊ 0⤋
I think you mean interest.
Basically if I give you 500 bucks because you really need it, then you pay me back 100 bucks a month for the next 6 months, that way you paid me 600 back. Then I made interest off of you.
2007-11-03 13:04:50 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Loan shark.
2007-11-03 13:03:27 · answer #4 · answered by Irish 7 · 1⤊ 0⤋
a loan
2007-11-03 16:06:34 · answer #5 · answered by cng 4 · 0⤊ 0⤋
Interest?
2007-11-03 13:02:18 · answer #6 · answered by John 5 · 0⤊ 0⤋
i think the word you're looking for is 'interests'
2007-11-03 13:07:20 · answer #7 · answered by Carlos 2 · 0⤊ 0⤋
Usury.
RRRR
2007-11-03 13:14:21 · answer #8 · answered by Anonymous · 0⤊ 1⤋
great business!!!
2007-11-06 09:08:12 · answer #9 · answered by Anonymous · 0⤊ 0⤋
interest....
2007-11-03 13:06:50 · answer #10 · answered by Anonymous · 0⤊ 0⤋