She’s got requested a $5.5k loan with a four year term to keep her monthly premiums manageable.
A $5500 loan having a four 12 months term and 6.5% rate of interest for Dorothy would price her the following every month:
Loan Amount (principal) = $5500 rate of interest = 7.4% Term Length =4 12 months Monthly Payment = $132.73 Total Paid Back = $6370.92 Total Interest = $870.92
Dorothy should quickly pay from the cash advance as her very very first concern. She is being cost by it the absolute most cash with regards to costs and interest costs. (more…)