NettetTamang sagot sa tanong: Week #: 4 MATHEMATICSDirections:Ask how much a certain appliance costs if it is (a) paid in full, or (b)paid in installment.Determine the interest rate for the period and the annual interest rate.For example, if an appliance that costs P 15,000 can be paid in 8 monthly payments ofP 2,000, then the formula 15,000 = 2,000/(1 … Nettet17. apr. 2024 · An installment loan is a way to borrow money, typically for a single large purchase such as a car, house or college education. After getting approved by a lender, …
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NettetInstallment loans are any type of loan where the total amount is divided into equal amounts that you repay on a monthly basis for the duration of the loan term until it’s paid off in full. Car loans, online personal loans, signature loans, and some mortgages are examples of loans with monthly payments. NettetLenders like to see a mix of both installment loans and revolving credit on your credit portfolio. So if you pay off a car loan and don't have any other installment loans, you might actually see that your credit score dropped because you now have only revolving debt. Takedown request View complete answer on bankrate.com mary wroth early life
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Nettet5. apr. 2024 · All installment debt that is not secured by a financial asset—including student loans, automobile loans, personal loans, and timeshares—must be considered part of the borrower’s recurring monthly debt obligations if there are more than ten monthly payments remaining. However, an installment debt with fewer monthly … Nettet12. jun. 2007 · An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly … Nettet13. apr. 2024 · To get the monthly payment amount for a loan with four percent interest, 48 payments, and an amount of $20,000, you would use this formula: =PMT … mary writer of frankenstein