Unsecured Personal Loans Avail Finance For Short Term 2

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A note due yous any penned agreement within which a person promises to repay a certain amount about money on or before a particular date. These promissory notes may utilize to short term or extended term loans. Inside various instances, a discount may be given if a loan is payed again prior other than the promised date.This discount is typically measured because a percentage of the amount of the loan.

Difficulty: Moderately Easy

Instructions

Things You'll Need

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1 Find from what the discounted percentage is.

3 Multiply the percentage times the cost of the loan. To instance, if the loan cost is $50,000 (that yous the sum of the original loan plus curiosity) and the deduction for early repayment is 10 percent, multiply 50,000 in 0.10 to get a discount of $5,000.

4 Subtract the deduction from the total loan amount to figure what amount will be repaid. If the loan was for $50,000 and the discount is $5,000, the full repayment quantity would be $45,000.

References

Business Dictionary: Notes Owing

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