We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Working out settlement figure of loan.
Hi all,
Is there any easy way to work out the settlement figure of my loan?
The loan was for £12,000 over 36 months and the total repayment is £13.698.36
So that's £1,698.36 interest. I think the loan was 8.9% APR.
The current balance of the loan is £10,654.28 with a settlement figure of £9,442.01.
Any ideas?
Is there any easy way to work out the settlement figure of my loan?
The loan was for £12,000 over 36 months and the total repayment is £13.698.36
So that's £1,698.36 interest. I think the loan was 8.9% APR.
The current balance of the loan is £10,654.28 with a settlement figure of £9,442.01.
Any ideas?
EMERGENCY FUND CHALLENGE - £2,292.05 / £6000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,000
0
Comments
-
Why not ring the loan provider and ask them?0
-
Why not ring the loan provider and ask them?
Because I would like to know if there is a way I can work it out myself.EMERGENCY FUND CHALLENGE - £2,292.05 / £6000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,0000 -
I don't think there is an easy way to work it out no.
I've had a play around with the figures you have given in a spreadsheet and can't get back to that settlement figure of £9442.01 after 8months. I've tried a couple of different ways but each time came back with a slightly higher figure than that as a settlement figure.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
how many payments have you made?EU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0 -
I don't think there is an easy way to work it out no.
I've had a play around with the figures you have given in a spreadsheet and can't get back to that settlement figure of £9442.01 after 8months. I've tried a couple of different ways but each time came back with a slightly higher figure than that as a settlement figure.
Ok, thanks for trying anyways.
I guess I could just decide the total interest by 36 months, that would indicate roughly how much is going toward interest and how much paying off the balance. It won't be accurate but will give me a rough idea.
Thanks again.EMERGENCY FUND CHALLENGE - £2,292.05 / £6000
DEBT FREE DATE - 16/02/2021
Pay Debt by Xmas 2021 - No.134 - £2,871.64 / £2,871.64 - 100% Paid
Pay Debt by Xmas 2020 - No.134 - Target: £7,985 / Achieved: £5,113.36
Pay Debt by Xmas 2019 - No.134 - Target: £15,985.00 / Achieved: £8,0000 -
they may charge 2 months interest for settling early0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.7K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.3K Work, Benefits & Business
- 605.9K Mortgages, Homes & Bills
- 179K Life & Family
- 263.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards