Need help with university finance question?
Beef B Asked: Need help with university finance question?
The interest rate on a $300,000 loan is 6% APR, compounded quarterly. Suppose the loan is to be repaid in three equal installments due 2, 4 and 8 years after the date of the loan. Calculate the size of these payments. (i.e. C2 = C4 = C8 = ?)
Categories: Loan Questions Tags: APR
Complicated Military – Involuntary Separation Question?
william k Asked: Complicated Military – Involuntary Separation Question?
If I remember right, you can't get Involuntary separation pay and get VA disability. You have to choose. has anyone taken the pay and then gotten disability and paid the lump sum back and how do they take it back, is it in monthly payments or all at once where you just don't get a check until it's paid off. I'm wondering because if you can pay it back in monthly installments the separation pay is looking like a nice little interest free loan which could save thousands on a mortgage.
Categories: Loan Questions Tags: Alvin Dickson Answered, NO, Services Rendered, VA
Categories: Loan Questions Tags: Quantitative Apptitude
do i have to pay the auction fee to the bank?
Sweetbabes Asked: do i have to pay the auction fee to the bank?
i live in dubai and i could not pay the car loan to the ADCB bank . I had paid for 3 and half year installment which is for 5 years, but i could not pay later due to finance problem. Now the bank has sold the car without my knowldge. The bank infromed me that i can get a release letter from them without it i cannot travel. Now they are asking me to pay the auction fee, fine andpaper work. Do i have to pay for it?Please let me know ASAP
Categories: Loan Questions Tags: ADCB, Sweetbabes Asked
I took advantage of the $7,500 First Time Homebuyer Tax Credit in 2008. If I rent the house, what ha
Chris Asked: I took advantage of the $7,500 First Time Homebuyer Tax Credit in 2008. If I rent the house, what ha
Here is the deal:
I took advantage of the $7,500 First Time Homebuyer Tax Credit in 2008.
This was not the $8k Credit that came in 2009. The 2009 credit is not a loan.
My Tax Credit is a $7,500 loan, set to be repaid in $500 installments over a 15 year period.
So here is where things spiral into a possible disaster for me:
I made the first $500 payment while filing my 2010 Taxes in February. I owe $7,000. The rules of this credit state that the IRS can bill me for the ENTIRE AMOUNT DUE if I change my address. (In other words, If the property I received the credit on is no longer owner occupied or sold)
Well, I purchased my home three years ago. I owe 145k. It is worth 115k. I can rent it for a straight across break even amount, which would cover the Mortgage, Taxes, Insurance, and Property Management fees. That is where my luck ends.
I live in the Central Valley of California. Unemployment is straddling 20 percent, and work is scarce. My construction job involves me driving up to 200 miles per day for work (When there is work) , and the car repair costs are crushing me. I have the option to move asap, or file for bankruptcy in the next few months. Right now, my credit is flawless, other than the mounting debt I am incurring every day I stay here…and I will default If I do not leave. Its just a matter of time…
So my question is (In a nutshell), is the IRS going to demand $7,000 from me when I move, or do they have provisions for a situation like this? I cannot be the only one facing this problem!
Categories: Loan Questions Tags: Chris Asked, IRS, Jeanna Bushmaker Answered, Property Management
Can I have some Student Loan Help?
Brooke M Asked: Can I have some Student Loan Help?
I went to University in 2006 and wasnt there for very long. I have now applied for student funding for a open university course and they say I owe them money (over a 1,000) I did not know this because they have never sent a letter (to my knowledge) I have moved since I was at Uni.
Can i pay back the loan in installments and still get funding for my new course do you think? Anyone else this happened to?
Categories: Loan Questions Tags:
Why was I denied opening a checking account?
ronswife Asked: Why was I denied opening a checking account?
I currently have a checking account with a bank that charges for checks.I found a bank that will not charge me for checks and applied for an account.I was denied.I have never been denied before.I applied online.After entering my personal info they told me I had a mortgage in my name and needed me to verify the broker.I don't have a mortgage.They said I have a car loan.I don't have a car loan.They said I have a monthly installment account.I don't even know what that is.Did someone steel my identity?Or are these normal questions to protect my identity?Should I be worried?
Categories: Loan Questions Tags: Answers Darkstar667 Answered
Cash Store Payday Loans? What Happens if?
Ali Asked: Cash Store Payday Loans? What Happens if?
I have a Loan out from the cash store and its starting to get very annoying cause when i pay it off i have to take out another one to get food and stuff, as i only get limited amount. I realize now that the payday loan is not the way to go and i regret it now. I cant pay the next payment, however i can pay it overtime, i can give them semi large installments every month to pay it off. Whats going to happen if i do this? should i talk to them about it ? is tht the best way to go? i really dont want to be rude and just not answer there calls or anything but i cant have this loan thing haning over my head anymore im getting sick cause im so stressed out. i need to pay it off in time. Any advice is apriciated. thanks in advance
Categories: Loan Questions Tags:
Help understanding my credit score / finances?
TJ Egan Asked: Help understanding my credit score / finances?
Hi, I am a 22 year old male living in upstate NY. I have been working full-time for almost a year after graduating college. I was a computer science major so I don;t really get how all this credit stuff works.
Right now, my credit score is ' 710 ' … According to FreeCreditScore, the report says 2 factors lowering my credit score are:
– You have too many recent hard inquiries
– Your have too many installment loans
What does that mean? My parents told me to build up credit, so right now I am paying the following:
– Target store card ($500)
– Amazon store card ($1375)
– Bank of America credit card ($2,500)
– Capital One credit card ($2,000)
– Chase credit card ($4,000)
– Student Loans
My car payments are made directly to my dad, as I went through a private seller and am just paying my Dad back. I also have a Time Warner account. I have never had a late payment. Is this good? What can I do to improve my score? Right now I have about $3,600 in credit card debt from college and other things, and about $28,000 in student loans. I have $2,500 in a deferred compensation plan through my job. I make $52,000 a year. Someone be my financial guru and tell me where I stand, and where to go from here?
Categories: Loan Questions Tags: Everett Thomas Answered, NY, PAY, Time Warner
Your bank has a loan outstanding with a current balance of $1,000,000 that is payable in quarterly e
aschultz8 Asked: Your bank has a loan outstanding with a current balance of $1,000,000 that is payable in quarterly e
Your bank has a loan outstanding with a current balance of $1,000,000 that is payable in quarterly equal installments of $49,924.This loan has another 6 years to maturity.The borrower has run into financial problems and has requested a reduction of the quarterly installments to $40,000.The cost of money to the bank is 6% (with quarterly compounding).Estimate the loss to the bank if it agrees to restructure the loan as requested by the client.
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