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We can loan up to $500 to Irving occupants, in view of qualifying elements. On the off chance that endorsed, your credit will be expected on your next payday that falls in the vicinity of 10 and 31 days after you get your advance. Nitty gritty data with respect to expenses and reimbursement is accessible on our Rates and Terms page. As you consider whether an advance is proper for your prompt needs, you ought to likewise investigate other subsidizing alternatives. A payday credit is a genuine budgetary duty, and not an answer for long haul issues. Getting from a companion of relative may be a superior alternative.
It's a PV of an Annuity problem: 20,000=Pmt*PVA(r=.085, n=12). 20,000 = (1-(1/1.08^12))/.085 = Pmt*7.344686. Pmt = 20000/7.344686 = 2723.06
Hi, Traci had already answered this question, it was correct! However I'd like to give you my way of doing this too I use Irving excel and type in the following info: (Cell A1) Sum borrowed (Cell B1) 20000 (Cell A2) Annual interest rate (Cell B2) 8.50% (Cell A3) Repayment term (years) (Cell B3) 12 (Cell A4) Tpye=PMT(B2,B3,B1) press enter The result is equal to 2723.06 Hope this helps
If its a 8.5% annuity, it pays 8.5% per year of the principal 20k so 1,700 per year
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