How Do I Find The Principal Amount Of A Loan When All I Have Is The Interest Rate And Term?


3 Answers

Karl Sagan Profile
Karl Sagan answered

Hey, I think in this job, it all depends on your skills. If you do not have good skills, then of course you can look for a part-time job, but probably it will be quite a one-time job and low-paid. For example, my friend issued a quick loan on the site to buy equipment for car repair. Now he has already successfully bought the necessary equipment and submits ads for repair with a visit to the client. It is also essentially freelance, only he has the skills of car maintenance. So it's up to you in this situation.

Anonymous Profile
Anonymous answered
How do I find the principle loan amt, monthly payment, interest paid, and total purchasing cost when all I have is negotiated price, 8% APR, 3yrs, and a $1,000 down payment?????!!!
Aisha Profile
Aisha answered
You can use the interest formula for finding the principle amount. It is as follows:
P= I/rt
p is principal amount
I is interest amount
r is rate of interest
and T is the time for investment

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