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Difference between a floating charge and a fixed charge?
fixed and floating charge
What is a finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
Difference between interest rate and finance charge?
finance charge - This is the one time fees that the bank may charge for processing your loan Interest rate - This is the rate at which you must pay the bank interest for availing the loan during the loan tenure. Ex: Assuming you take a Rs. 1 lakh loan for 1 year at 10% fixed rate of interest and a 0.5% processing fee/finance charges ==> Monthly payment = 9166.67/- (Out of this Rs. 8333.33 would be principal repayment & Rs. 833.33 would be interest) Finance charges = Rs. 500/-
Calculate the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2.?
To calculate the finance charge, multiply the credit card balance by the monthly interest rate. For a balance of $3,299.19 at a monthly rate of 1.2% (0.012), the finance charge is: Finance Charge = $3,299.19 × 0.012 = $39.59. Therefore, the finance charge for that month is approximately $39.59.
What is the monthly finance charge if the average daily balance is 15 the daily periodic rate is 0.06 and the number of days in the cycle is 30?
To calculate the monthly finance charge, you can use the formula: Finance Charge = Average Daily Balance × Daily Periodic Rate × Number of Days in Cycle. Here, the average daily balance is $15, the daily periodic rate is 0.06 (which is 0.0006 when expressed as a decimal), and the number of days is 30. So, the finance charge would be: Finance Charge = $15 × 0.0006 × 30 = $0.27. Thus, the monthly finance charge is $0.27.
What is the difference between a running finance and a cash finance?
Cash finance is a term that means that the goods are pledged or released to the borrower against the cash payments only. The bank usually appoints a person who can be called a Care Taker for the goods and who reports to the bank after the release of goods. While the running finance is offered by the financial companies against the creation of charge on inventory or debtors which are of short term nature. The charge can be of any type say 1st charge, Ranking charge, pari pasu charge, etc. mortgages . It usually comes under the heading of the working capital finance.
What is the difference between a physical charge and a chemical charge?
Your telling me!
Difference between a floating charge and a fixed charge?
fixed and floating charge
What is the difference between a city criminal charge and a county criminal charge?
I live in Utah and I have found there is no difference
Difference in a charge between two electrodes in a cell causes a ----between electrodes?
Potential difference.
What is a finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
What is finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
Difference between electrical current and electrical charge?
current is the flow of charge.
Calculate the average daily balance and finance charge?
Calculate the average balance and finance charge
What is the difference in charge between a proton and a neutron?
The proton has a +1 charge, while a neutron has no charge, and is neutral.
Difference between interest rate and finance charge?
finance charge - This is the one time fees that the bank may charge for processing your loan Interest rate - This is the rate at which you must pay the bank interest for availing the loan during the loan tenure. Ex: Assuming you take a Rs. 1 lakh loan for 1 year at 10% fixed rate of interest and a 0.5% processing fee/finance charges ==> Monthly payment = 9166.67/- (Out of this Rs. 8333.33 would be principal repayment & Rs. 833.33 would be interest) Finance charges = Rs. 500/-
Calculate the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2.?
To calculate the finance charge, multiply the credit card balance by the monthly interest rate. For a balance of $3,299.19 at a monthly rate of 1.2% (0.012), the finance charge is: Finance Charge = $3,299.19 × 0.012 = $39.59. Therefore, the finance charge for that month is approximately $39.59.
