Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts
Sunday, August 7, 2016
Jobs report shows strong growth
The second straight month of surprisingly strong job growth shows the
labor market has regained its health after a springtime stumble, and
economists welcomed the news after recent signs of weakness in the
broader U.S.
Gawker, Hulk Hogan in Settlement Talks Over Invasion-of-Privacy Case
Gawker Media Group is engaged in preliminary talks with the former
professional wrestler known as Hulk Hogan to reach a settlement over a
$140 million invasion-of-privacy judgment that forced the digital media
company into bankruptcy
wall street journal
wall street journal
China's Great River of Steel Swells Again as Trade Tensions Rise
There's a river of steel flowing out of China despite the best efforts
of governments around the world to dam the flow from the world's top
producer, with data on Monday showing that overseas shipments held above
10 million tons in July.
bloomberg
bloomberg
Airbus Says U.K. Fraud Office Starts Criminal Bribery Probe
Airbus Group SE said the U.K. Serious Fraud Office has opened a criminal
investigation into allegations of fraud, bribery and corruption
relating to some of its third-party consultants.
bloomberg
bloomberg
Dollar Holds Advance After Payrolls Data Boost Fed Rate Odds
The dollar held a three-day advance against major peers Monday after
greater-than-forecast U.S. jobs growth spurred traders to increase bets
the Federal Reserve will raise interest rates this year.
bloomberg
bloomberg
Wednesday, September 1, 2010
How Do I Calculate Finance Charges?
A Little Death In Dixie
The Suburbs
Kindle 3G Wireless Reading Device, Free 3G + Wi-Fi, 6" Display, Graphite, 3G Works Globally - Latest Generation
Dexter: The Fourth Season
The Girl with the Dragon Tattoo
Having some knowledge of how to calculate finance charges is always a good thing. Most lenders, as you know, will do this for you, but it can helpful to be able to check the math yourself. It is important, however, to understand that what is presented here is a basic procedure for calculating finance charges and your lender may be using a more complicated method. There may also be other issues attached with your loan which may affect the charges.
The first thing to understand is that there are two basic parts to a loan. The first issue is called the principal. This is the amount of money that is borrowed. The lender wants to make a profit for his services (lending you the money) and this is called interest. There are many types of interest from simple to variable. This article will examine simple interest calculations.
In simple interest deals, the amount of the interest (expressed as a percentage) does not change over the life of the loan. This is often called flat rate or fixed interest.
The simple interest formula is as follows:
Interest = Principal × Rate × Time
Interest is the total amount of interest paid.
Principal is the amount lent or borrowed.
Rate is the percentage of the principal charged as interest each year.
To do your math, the rate must be expressed as a decimal, so percentages must be divided by 100. For example, if the rate is 18%, then use 18/100 or 0.18 in the formula.
Time is the time in years of the loan.
The simple interest formula is often abbreviated:
I = P R T
Simple interest math problems can be used for borrowing or for lending. The same formulas are used in both cases.
When money is borrowed, the total amount to be paid back equals the principal borrowed plus the interest charge:
Total repayments = principal + interest
Usually the money is paid back in regular installments, either monthly or weekly. To calculate the regular payment amount, you divide the total amount to be repaid by the number of months (or weeks) of the loan.
To convert the loan period, 'T', from years to months, you multiply it by 12. To convert 'T' to weeks, you multiply by 52, since there are 52 weeks in a year.
Here is an example problem to illustrate how this works.
Example:
A single mother purchases a used car by obtaining a simple interest loan. The car costs $1500, and the interest rate that she is being charged on the loan is 12%. The car loan is to be paid back in weekly installments over a period of 2 years. Here is how you answer these questions:
1. What is the amount of interest paid over the 2 years?
2. What is the total amount to be paid back?
3. What is the weekly payment amount?
You were given: principal: 'P' = $1500, interest rate: 'R' = 12% = 0.12, repayment time: 'T' = 2 years.
Step 1: Find the amount of interest paid.
Interest: 'I' = PRT
= 1500 × 0.12 × 2
= $360
Step 2: Find the total amount to be paid back.
Total repayments = principal + interest
= $1500 + $360
= $1860
Step 3: Calculate the weekly payment amount.
Weekly payment amount = total repayments divided by loan period, T, in weeks. In this case, $1860 divided by 104 weeks equals $17.88 per week.
http://www.articlesbase.com
The Suburbs
Kindle 3G Wireless Reading Device, Free 3G + Wi-Fi, 6" Display, Graphite, 3G Works Globally - Latest Generation
Dexter: The Fourth Season
The Girl with the Dragon Tattoo
Having some knowledge of how to calculate finance charges is always a good thing. Most lenders, as you know, will do this for you, but it can helpful to be able to check the math yourself. It is important, however, to understand that what is presented here is a basic procedure for calculating finance charges and your lender may be using a more complicated method. There may also be other issues attached with your loan which may affect the charges.
The first thing to understand is that there are two basic parts to a loan. The first issue is called the principal. This is the amount of money that is borrowed. The lender wants to make a profit for his services (lending you the money) and this is called interest. There are many types of interest from simple to variable. This article will examine simple interest calculations.
In simple interest deals, the amount of the interest (expressed as a percentage) does not change over the life of the loan. This is often called flat rate or fixed interest.
The simple interest formula is as follows:
Interest = Principal × Rate × Time
Interest is the total amount of interest paid.
Principal is the amount lent or borrowed.
Rate is the percentage of the principal charged as interest each year.
To do your math, the rate must be expressed as a decimal, so percentages must be divided by 100. For example, if the rate is 18%, then use 18/100 or 0.18 in the formula.
Time is the time in years of the loan.
The simple interest formula is often abbreviated:
I = P R T
Simple interest math problems can be used for borrowing or for lending. The same formulas are used in both cases.
When money is borrowed, the total amount to be paid back equals the principal borrowed plus the interest charge:
Total repayments = principal + interest
Usually the money is paid back in regular installments, either monthly or weekly. To calculate the regular payment amount, you divide the total amount to be repaid by the number of months (or weeks) of the loan.
To convert the loan period, 'T', from years to months, you multiply it by 12. To convert 'T' to weeks, you multiply by 52, since there are 52 weeks in a year.
Here is an example problem to illustrate how this works.
Example:
A single mother purchases a used car by obtaining a simple interest loan. The car costs $1500, and the interest rate that she is being charged on the loan is 12%. The car loan is to be paid back in weekly installments over a period of 2 years. Here is how you answer these questions:
1. What is the amount of interest paid over the 2 years?
2. What is the total amount to be paid back?
3. What is the weekly payment amount?
You were given: principal: 'P' = $1500, interest rate: 'R' = 12% = 0.12, repayment time: 'T' = 2 years.
Step 1: Find the amount of interest paid.
Interest: 'I' = PRT
= 1500 × 0.12 × 2
= $360
Step 2: Find the total amount to be paid back.
Total repayments = principal + interest
= $1500 + $360
= $1860
Step 3: Calculate the weekly payment amount.
Weekly payment amount = total repayments divided by loan period, T, in weeks. In this case, $1860 divided by 104 weeks equals $17.88 per week.
http://www.articlesbase.com
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