Finance Questions

Archive for April, 2009

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In this section, you will learn how to calculate simple interest. Simple interest, like its name, is the easiest form of interests to calculate. You can use the Simple Interest Formula to calculate simple interest for many different financial circumstances.

How to calculate simple interest?

To calculate simple interest, you need to know:

• the principal invested (P)
• the interest rate (r)
• the number of time period for which the simple interest is to be calculated (n)

Calculate simple interest using Simple Interest Formula

When you have P, n, and r, you can just plug those numbers into the Simple Interest Formula to calculate simple interest. The formula for calculating simple interest is:

The time period used to calculate simple interest using the Simple Interest Formula is a little tricky to find. If you are calculating simple interest on a savings account after n years with the simple interest added at the end of each year, then n is just n in your Simple Interest Formula. However, if the simple interest is calculated every 6 months, n is not just n anymore but 2n to reflect that each time period is only 6 months.

Uses of how to calculate simple interest

• you can use the Simple Interest Formula to calculate simple interest on loans such as car loans
• you can calculate the APR rate from simple interest rates
• learn how to calculate simple annual interest rate
• learn how to calculate simple interest on a savings account

Question: Toyota Auto Finance Rate Loan APR?

hi,
i’m looking to purchase an ‘07 Yaris Hatchback, but the rate I was offered by Toyota Finance is 14%. is this a reasonable rate for a credit score of 630?
i know that i could try capital one, etc. but i dont want to mark my credit down even more by applying to all these loans.
fyi, the last time i bought a car from Toyota they gave me 4.9% financing, but they said that was because of their special Low APR incentive.
If anyone has similar credit and got good APR on their auto loans, I would appreciate any feedback.
Also, if you have purchased a Yaris recently, what was your APR and credit score?

Answer: Auto finance is what I do for a living and there are several things that could be in play in your scenario.

If you are trading in your first car and still own a balance, you are most likely upside down (you owe more than it’s worth) since negative equity can not be shown on most contracts, the amount that you owe over what the trade is worth is added to the sales price of the new vehicle raising your LTV (loan to value) this effects your rate.

The other thing that might have happened is there may have been late payments on your first account. I only say this because a 630 score for someone that has paid as agreed on their car loan is not a good score.

Also you may be borrowing the money for a longer term, this also effects rate. Add all of this to the fact that the manufacturers are not offering any where near the rates they were a few years ago and there you have it.

You might try another dealer, as one of the other posters said dealers mark up rates to make whats called reserve profit.

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Question: What can I do?

I had a daughter with my x boyfriend. My x boyfriend report his monthly income $500.00. He reported a lot less so my child support comes out to be $73.88 bi weekly. He made more than $2,500.00 a month as a sushi chef and $2000.00 is cash in his pocket. He has a house under mortgage and finance 2 cars. Is there any way I can get more child support from him? He lives in Chicago and I live in New York.

Answer: Talk to a lawyer and take him to court.

Bad Credit Car Loan | Chicago Car loan | Auto Loan

Question: is it more expensive or cheaper in the UK to own a car than in America (US)? pleeeeeeeeeeeeeeeeeeeeease answer?

in america if you buy a brand new Porsche 911 turbo and drive about 15k miles a year and have more than 6 years driving experiance, it would cost to (excluding the depreciation cost and the Financing cost) around $13000 in the first year then it would go down a bit every year.
this includes the Fuel Cost ($2,398), Insurance ($2,250), Maintenance ($167), Fees & Taxes ($6,923) and Repairs ($1000).
i got this information from the yahoo autos website. but it dosent show much it would cost in the UK to own one.
so my question is that in British pounds (£), how much a year would it cost me. dont just convert the dollars to pounds because i am pretty sure that the stuff like fuel cost, insurance, tax and maintenance are higher here in the UK.

Answer: When you factor in the cost of living and salaries to suit, it’s about the same.

Mercedes CLK – Car – Auto – Car Loans at Creditplus.co.uk