How do I calculate this bond repayment sum?

You wish to purchase your first home. The bank will only allow a bond repayment, which is no greater than 30% of your net monthly salary. Your gross salary is $8250 per month and you have deductions of 25% per month from your salary.

Q: Calculate net salary (amount after deductions)

A: $6187.5

Q: Maximum bond repayment you can afford?

A: $1856.25

Q: The bank offers a fixed bond rate of 13,5% p.a. compunded monthly, over a 20 year period. Can you afford a flat that costs $150 000?

A: ???

Please show me how to calculate this. Thanks.

How do I calculate this bond repayment sum?yes loans

Required EMI = 150,000/ AF(13.5/12% , 20*12)

where AF is annuity factor, 13.5/12% is the monthly rate and 20*12 is number of months.

where AF (r,n)= annuity factor with rate r and number of periods n

= 1/(1+r) + 1/(1+r)^2 + .... (1/(1+r)^n

= 1/r - 1/(r(1+r)^n)

Alternatively use PMT function on Excel.

So, EMI = $1181

Thus you can afford the loan.

Borrow money from people?

how you can borrow monen from people as a bank or goverment like prime rate how you can offer cd like bank or brokrage company do.

Borrow money from people?education loans

You can lend and borrow money at prosper.com

Borrow money from people? loan

you can borrow money but you have to pay the person back as for trying to be like a bank will i don%26#039;t think it would work...

Question listed below?

Kassie borrowed $1000 from the bank at a 12% interest rate. How much money will kassie have to pay the bank over a six month period of time?

Question listed below?interest only loan

If she pays it all back after 6 months, she will have to pay the $1000 principle plus 12%/2=6% interest, which, on $1000 is $60 for a total of $1060.

Question listed below? loan

1,120.00|||It depends on whether the loan is based on simple interest or compound interest. It also depends on the length of the loan, how often payments are made and whether the payments are the same each time (such as on a mortgage).

But assuming the question means to ask how much interest is due on the loan after six months, assuming nothing has been paid to date:

For simple interest at a 12% annual interest rate, 6% of the balance will be due as interest after a half year. That is $60.

If it is compound interest and the interest is compounding continuously rather than daily or some other period, the interest accumulated is : $1000*(1.12)^(0.5) - $1000 = $58.30

Note: this may seem like a better deal in the short term, but if this interest is not paid off, six months later the interest is due on the unpaid interest as well and an additional $61.70 is due.

Credit cards are based on compound interest, so anytime you pay less than the amount of interest that has been charged in the last payment period, you will have even more additional interest due the next period.

How dumb is it to deport illegal immigrants?

A study by the Rand Corporation, conducted by Kevin McCarthy and Georges Vernez, came to the conclusion that immigrants do not have a negative effect on the earnings and the employment opportunities of native-born Americans.[2]

An increasing number of banks contend that providing undocumented residents with mortgages helps revitalize local communities, as they buy and rebuild run-down properties. According to the executive vice president of Banco Popular, the bank has found no higher rate of default in home loans to illegal immigrants than any other market the company serves.[3]

Taxation Professor of Law Francine Lipman writes in a 2006 paper in the peer-reviewed journal Tax Lawyer of the American Bar Association Section of Taxation that the belief that undocumented migrants are exploiting the US economy and cost more in services than they contribute to the economy is %26quot;undeniably false%26quot;.

How dumb is it to deport illegal immigrants?boat loans

Thanks for the info. Where did you copy and paste all this information from?

How dumb is it to deport illegal immigrants? loan

If we let criminal aliens do as they please why bother enforcing any other laws that actual citizens break?|||Yes, the three illegal aliens plotting to blow up Fort Dix were an economic asset indeed.

Secure the border first, then we can discuss %26quot;amnesty%26quot; or %26quot;immigration reform%26quot;|||It is not dumb at all! They broke the law. America is a nation of laws. If you give them a pass, you should give all criminals a pass!|||Not as dumb as letting them stay, showing them amnesty and mooching off of us.|||I have no problem with illegal immigrants. It%26#039;s not they%26#039;re fault their country is so corrupt that it can%26#039;t generate any wealth. If you believe you can succeed through hard work, you are a contribution to this country. Mexicans know more about the american dream than we do.

But you do not come here to be a parasite on productive society. Nobody should be able to demand money from their fellow Americans so they can sit on their *** and pretend to be looking for a job.|||Why do you only quote liberal sources. Why not look at what is actually going on. They cost us billions in health care each year. The gobble up welfair moneys like it was candy. The tax benifit of the few that do pay taxes doesnt amount to enough money to support even half of them. As far a jobs that can not be proven as our people are not given the chance to work them. Besides less than 2% of the illegal immigrants work for less than minum wage.|||they%26#039;ve broken our laws and that%26#039;s why they%26#039;re being deported!|||My favorite number you sited was the 1.4 million immigrants with ITN- 1/2 of those being illegal aliens.

Considering there are 12 million illegal aliens in the United States of America and approx 700,000.0 filed taxes that just leaves 11 million 300,000 more to apply for ITN and file their taxes.|||THAT%26#039;S THE SMARTEST IDEA EVER! LETS ARREST, DEPORT, AND BUILD THE WALL!|||I think this non-issue is going to propel some real caveman into office in 2008. The GOP strategists are brilliant. People are really dumb and uninformed.

There wouldn%26#039;t be a problem with any immigration if American business was undermining our economy by cutting jobs, destroying employees pensions and benefits and outsourcing. But because that%26#039;s the real agenda the GOP need to blame someone, because they can%26#039;t face the complicity of Business (including their own president and his cronies) in destroying the earning potential of all Americans.

No, they shouldn%26#039;t be allowed to come in illegally. But who are you going to punish? Them, or the businesses that thrive on their presence?

How about a real answer to this, oh nativists?|||It%26#039;s a mucked up situation - I have no love for law breakers but I think the hatred the right has for them is misguided. We need rational solutions not emotional ones.|||So.. you have 1 study that says they don%26#039;t. While the other 90000 say they do?

Sure.. let%26#039;s go with the 1.|||Well first did it occur to you that the Rand corporation is in the

business community%26#039;s back pocket?, and they put out these statistics to do precisely what you%26#039;re doing here. I know what these people are costing the health care system, I have family in health care and more and more hospitals are closing, (California is almost in crisis mode) from providing health care for the waves of these people, and their 3-4-5-6 whatever kids. Not to mention the costs to the legal system, and other services, and the depression of wages their being here has brought. So the Rand corp. can say whatever it wants but I know first hand it%26#039;s a bunch of BS|||Do you people even know what you%26#039;re talking about?

Where do you get your information to be able to say that illegals come here to mooch off of us? How you can you base your opinion on heresay and rumors?

Do you actually personally KNOW any illegals??

Have you ever been in one of those countries to see face to face how they live? It%26#039;s always the folks that do not possess enough valid information or actual have had one one experience with an illegal that have the harshest things to say.

You need to learn alot more about them before you can make statements such as they are %26#039;moochers!%26#039; That%26#039;s one of the stupidest things I%26#039;ve heard as an argument against them.

They WANT to work!

I knew illegals( now legal permanent residents or U.S. citizens) who were paying income taxes b/c they had a working permit with a SS# given to them by the IRS.

They came here to work (and are DAMN hard workers) and paid their way in every aspect of the word-NEVER went on public assistance for ANYTHING.

If you were ever actually in one of those countries and saw how hard it is to make a living, if you ever actually befriended an illegal, you wouldn%26#039;t be saying those harsh things.

You would actually be educated on the economy and welfare of those countries.

Work is hard to come by, in most cases you must have a H.S. diploma in order to even get a job, then you%26#039;ll end up earning $3 a DAY, and when you go shopping for necessities you can hardly afford to buy a $6 can of coffee or a $5 bottle of Suave shampoo. Most people use public buses for transportation since they can%26#039;t afford a car(cars are even more expensive there!)

Not only do they earn so little, but to purchase even the basic necessities is outrageous!

I know this information from people I know who live in El Salvador. And yes, I%26#039;ve been there also so I have two accurate sources of information-from my own experience and from actually KNOWING people residing in one of those countries.

They help this country more than many of you realize.

Deporting all 12 million of them is not only one of the worst decisions, but is also highly impossible! Who is going to be able to FIND them all?

But if those of you that are pushing for deportation as some %26quot;miracle%26quot; actually get your wish, then and only then will you realize what an asset they were/are to this country and then you%26#039;ll be on here crying about what a mistake that was.

Refinance - Web Closing?

I am about to refinance my mortgage with one of the biggest banks in the country. Interest rate is great. Closing fee is very minimal. They told me, I can do web closing or go to any of the branches. For web closing, I will have to give the closing company (an affiliate of the bank), the Power of Attorney and some body from the closing company will sign on my behalf. I will have to login at a scheduled time and some one from the closing company will walk me thru each of the document.

I have never heard about this. Has anyone heard anything like this?

Refinance - Web Closing?loan forgiveness

Go in person! Having done over 1000 closing, I know that there is usually at least one change, etc. Go in person!

Refinance - Web Closing? loan

Nope. I personally would want to close in person and read and receive the hardcopy documents.|||I have heard of this forthcoming...In fact, the bank I work for will be doing it in 2008. My biggest concerns would be:

1) Internet security. make certain that your information is safe. Look for the lock symbol.

2) Make certain that the Power of Attorney is a Specific POA, not a general. I would assume that the POA will be a Specific, just make certain. A general POA gives too much %26quot;Power%26quot;

Take care and welcome to the next new technology. Pretty soon we will never even have to leave home. Except of course to move.|||No, I don%26#039;t know anything about that, but you can check www.PrimericaSecure.com or call 1(877)8558111 and Representative can you help with that. Just give this information for a free consultation: Rep. Last name is VALENCIA, PIN# MAAR9. Good Look . God Bless YOU. AND HAPPY THANKS GIVEN DAY. P/DYou have to be carefully with that kind of transaction because you can lose your money and your time.|||I hope it not countrywide.....|||Always go in person, if they change something, how would you know? Next thing you know your in a 1 yr adjustable instead of a 30 yr fixed. just go.

Waste of time?!Confused!?

We applied for a car loan yesterday, the deal called us back and said there was a bank who needed more information (last years taxes) so we faxed them. Now, does this mean we got the loan? the bank also gave the interest rate,but never said what the down payment would be.

we are suppose to find out later whats going on but I cant stand waiting lol

Thanks for your help

Waste of time?!Confused!?bridge loan

Just be patient .. they are working on it and probably negotiating your rate, etc ..

Good Luck!

Waste of time?!Confused!?

loan

call the bank or the dealership|||Most likely you have informed them of how much money you make already. As long as the tax returns support the information that you have provided them, you should be fine and hopefully you should hear back within the next couple of hours the final end result. Good luck:)|||If they have calculated the interest rate for the car you want, they%26#039;ve already taken into account your down payment. You should have indicated how much you have to put down on the loan application.

It sounds like you%26#039;ve been approved, but they are trying to figure out the most interest they can charge you. Reject the first offer and get it low!|||This DOES NOT MEAN you got the loan...it means they are trying other financial institutions to TRY and get you financed...be patient..they may find one for you

Professionals only, please: I am a professional and I send monthly statements for services rendered

prior to receiving one, each client has signed an agreement specifying interest rate of 18% if not paid within 15 days. Statements also make this clear. Despite, this, the majority of my statements are not paid on time. Because I don%26#039;t want to be a bank, I charge a high rate of interest. Clients don;t seem to care - they either ignore and pay the orig balance eventually, or sometimes just go ahead and pay with int. But hate having to chase them down and the interest can lead to disputes / hard feelings. Lately, instead of just throwing in stuff for free, I itemize it, list price, then indicate on bill it%26#039;s free if statement is paid on time; if not, it%26#039;s going to be on next statement. This is also made clear in plain English on statement - it too fails to motivate timely payment from most clients. Any recommendations? Maybe 15 days is too quick, but I fail to see how a 30 day deadline is going to make anyone pay any quicker!? The credit cards and others don%26#039;t allow 30 days.

Professionals only, please: I am a professional and I send monthly statements for services rendered -?no fax loan

It%26#039;s a problem that all businesses and all professionals face -- some percentage of clients won%26#039;t pay, and some will pay late.

30 days is more common in many industries, and might help your situation because many people operate on a monthly budget cycle -- especially if you notice that the people paying late tend to pay within the 30 day window if not the 15 day mark.

I like your idea about the %26quot;free if paid on time%26quot; parts -- that%26#039;s creative and a good way to incentivize people. Other than that, it just part of doing business.

Professionals only, please: I am a professional and I send monthly statements for services rendered -?

loan

Most businesses I have dealt with offer their sevices %26quot;interest free%26quot; if paid within a certain time frame. Usually 15% charge after 15 days past due. You are a little higher interest wise but are not alone in your billing practices.|||Rather than focus on the slow-pays, why dont you consider giving a discount for clients who pay within a prescribed time frame. For example, a business might give a 3 percent discount if the invoice is paid within 10 days, a 2 percent within 15 days, and a 1 percent if paid within 30 days.

Many busineses are very loathe to pay interest to other businesses. I think it%26#039;s probably not worth your time to chase this down for people who pay within 45 days, but take a hard stance against clients who are chronically slow-pays even after 45 days.