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How do you figure out an intrest rate for a loan.
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How do you figure out an intrest rate for a loan.

User Icaro Mota
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4 votes

Answer:

Gather information like your principal loan amount, interest rate and total number of months or years that you'll be paying the loan.

Calculate your total interest by using this formula: Principal Loan Amount x Interest Rate x Time (number of years in term) = Interest.

User Golldy
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