Finance Metric - Q&A: Interest Rate

Question: #1: Interest rate?
If there's an interest rate given e.g. 8% annual rate but we have to find monthly payments for 4 yrs., how is the rate changed from annual to monthly?E.G. for finding annuity, I'll put in 48 months but what is the 8% yearly interest rate going to be?Thankssome more info:lets say somene borrows 30000 loan and has to pay for a car which will have an interest of 8% annual rate and what is the monthly payment on a 4 year loan? - asked by S

Answer: ... - answered by: financegal27
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Question: #2: What is the interest rate for high credit scoresand the differences in rates?
If one is prime rate. Credit score above 780. Are the final interest rates they quote you lower than what is advertise on their website? I am considering using a mortgage broker however their rates seem higher than the bank + the cost seems higher. If the rate is what they advertise, I might just go to the bank directly first and save my time. The mortgage broker seems to be on top of things and most likely have better info on closing etc. which is their only selling point but if the interest rate is higher than the competitor I am reluctant to go with it since they will hit my credit score if I apply. Simply put money is money a little .25% can equal 60K over the life of the loan. Something that could sit in investment generating returns for me. In general what is the difference in the interest rate for prime/ A credit scores? Are the advertised rates using prime rates or just average rates?Thanks in advance - asked by echo1181

Answer: ... - answered by: Anthony P
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Question: #3: What is a competitive interest rate for a MarginLoan Australian dollars?
I am preparing to apply for a margin loan, I would like an idea of the interest rates different institutions are offering.I want to borrow against my existing share portfolio and other assets, what is the most competitive interest rate going to borrow against $60k worth of shares?Comsec will lend up to 90% depending on what you are prepared to invest in, I would like a margin loan in the range of $40k, fixed prepaid interest. Can you provide the company name, product name and interest rate? - asked by treb67

Answer: ... - answered by: stock_trade_expert
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Question: #4: Why are home interest rates rising when the fedkeeps lowering the interest rate?
I am a bit confused at why the interest rate on 15 and 30 year mortgages is rising and the Fed is lowering the interest rate. Shouldn't the mortgage companies be passing the savings on to the consumers? Isn't that the whole point behind the Fed trying to help our economy? Just wondering. If anyone knows the answer please let me know. Thanks. - asked by weezy

Answer: ... - answered by: dday2086
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Question: #5: How will the interest rate and planned investmentspending change as the following events occur?
How will the interest rate and planned investment spending change as the following events occur?a. An increase in the quantity of money by the Federal Reserve increases the amount of money that people wish to lend at any interest rate.c. Baby boomers begin to retire in large numbers and reduce their savings.I am a little bit lost. I'm learning about the interest rates, spending, and the multiplier in my Macroeconomics class right now. - asked by islndnative

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Question: #6: How does the interest rate cuts by the federalgovernment affect the USA?
i read the federal government is going to cut the interest rate again. what interest rate are they cutting? how would it affect me in the USA? What does the rate cut do? - asked by adamc44

Answer: ... - answered by: I. B. Zoxx
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Question: #7: What good interest rate should someone open asavings account and when should they open anaccount?
Wanting to open a savings account, what interest rate is a good rate. Is there a specific time in the year one should open an account, spring time or summer or right before new years?? - asked by umair23

Answer: ... - answered by: mister ed
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Question: #8: How much interest rate would I get on my mortgageloan and how much would I pay monthly given mysituation?
I am a 24yo med student in Chicago looking to buy a condominium. As a student, I have no steady income but do have around $30,000 available for a 10% downpayment. My credit score is 760. Can I get a mortgage with a reasonable interest rate given my credit score and lack of steady income and what would that rate be? I plan on purchasing a condo and renting it out for 2-3 years and using the rent to supplement monthly mortgage until I have a consistent income high enough for me to move-in myself. What steps must I take to fulfill my plan of first time home ownership? - asked by doesnotexist1

Answer: ... - answered by: Dan
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Question: #9: What interest rate should I expect on a new car?
Is there any way to get an idea of what my interest rate would be on a new car? I would like to buy a new Nissan Versa within the next couple of months. The car costs around $16,000, I'm planning to put $4000 down, and I have a good credit score of 720.Thanks! - asked by SE

Answer: ... - answered by: Shaq iz Phat
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Question: #10: What interest rate on a car loan can I get if Ihave good to excellent credit?
I want to buy a used honda and will need to finance. My credit is very good. How do I know if they are trying to screw me on the interest rate? - asked by Mike B

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Question: #11: How do i calculate the average interest rate ofall my 5 credit cards?
For instance if credit card A has an interest rate of 12% and the balance is $7000, cc B has a rate of 9% and the balance is $1300, cc C has a rate of 16% and the balance is $3000,...........................What is the average interest rate?A website that explains how to calculate it would be helpful also. - asked by Claudio F

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Question: #12: What is the lowest interest rate credit card thatI can apply for?
I currently have a 17.99% APR credit card. I've had it for almost a year now. 11 months to be exact. I want to go to a lower interest rate card. Does anyone know a good low interest rate card? - asked by Carbonbased Lifeform

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Question: #13: Is interest rate the most important thing when itcomes to consolidating debt?
because financial experts say its the least important factor. They say people should ask themselves what is their total cost and how soon will they be out of debt? and finally, compare interest rate. - asked by LOL

Answer: ... - answered by: Primerica Debate Team
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Question: #14: What is a good interest rate for financing a car?
My credit is 603, I'm planning to buy a car in 4 months.What can my interest rate be?What is a good interest rate?Thanks - asked by ticosport9

Answer: ... - answered by: Tanita
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Question: #15: How can I lower the interest rate on my studentloans?
I owe about 35,000 in stafford student loans (17,500 subsidized and 17,500 unsubsidized and want to lower the interest rate. Right now it is at 6%. I'm still in school but at the current rate I am being charged about 3.00 a day interest on the loans that the the government isnt paying the interest on. I've heard of consolidating but I don't really know how it works or where I should go to begin or even if I can consolidate since I'm still in school. Help! - asked by The Drake

Answer: ... - answered by: musicimprovedme
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Question: #16: What is the difference in fix interest rate andfloating interest rate in banking and which one isgood?
What is the difference in fix interest rate and floating interest rate in banking and which one is good? - asked by Shridhar K

Answer: ... - answered by: SimonC
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Question: #17: What kind of interest rate can spouse and I getfor home loan?
My husband has really good credit. He has a 780. Mine is not good. I made some mistakes when I was younger. Everything is paid for now but my credit is still suffering from it. We are getting ready to purchase our first home and I was curious as to what percentage interst rate we can get. The difference of interest rates is a big factor as to how much 'house' we can afford.Thanks for any help. - asked by Charity R

Answer: ... - answered by: Louiegirl_Chicago
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Question: #18: how much interest rate should I pay if I borrowmoney from a friend?
I need to borrow money from a friend shortly, but dunno how much interest rate should I pay her? I wonder how much is the current annual mortgage rate? I mean *annual*. I guess I should pay a interest at rate close to that , shouldn't I? - asked by ufogirl

Answer: ... - answered by: cannot_remember_chit
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Question: #20: What determines the interest rate on I bonds?
I am thinking about purchasing my new great niece an I bond for her birthday for $100. I know the interest rate now until May is like 4.7 %. What determines the interest rate in the I bond? Does the Feds raising and lowering the interest rate have any affect on the return? This I bond I plan to purchase will be for her future education. - asked by happydawg

Answer: ... - answered by: Dr J
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Question: #21: How do you negotiate a lower interest rate with acreditor?
I just suggested to a person that they negotiate a lower interest rate with a creditor, and I know it's possible. But I'm not sure how to do it. Has anyone ever been able to renegotiate a higher interest rate into a lower rate? How did you do it? - asked by Searcher

Answer: ... - answered by: misskate12001
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Question: #22: Is there a connection between the interest ratesbanks set and the Bank of England's interest rate?
Is there a connection between the interest rates banks set and the Bank of England's interest rate? Does the Bank of England control the retail bank's interest rates? Or do the banks set them independently of the Bank of England? - asked by smsmgs2002

Answer: ... - answered by: BOOKIEMAN
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Question: #23: What is a good interest rate for a first timebuyer?
I'm buying my first new car and I was wondering if anyone knows what a good (and possible) interest rate would be.I know that it will probably be a little higher because I am a first time buyer and because I'm not using a co-signer.My credit score is around 640. I'm 21, trying to finance a Toyota Yaris.Currently they are telling me I'm going to get a 10% interest rate. Is this a good interest rate for me? Think I can get better? What should I be aiming for? - asked by TiFFeRz

Answer: ... - answered by: GDL
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Question: #24: How do i calculate interest rate on a loan I havetaken out?
I have term, balloon, principal, interest charges but do not know how to calculate interest rate I am paying. - asked by magicmerv2007

Answer: ... - answered by: Arcangel005
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Question: #26: What interest rate can I expect on a mortgage loanwith my credit scores?
What interest rate can I expect on a mortgage loan with my credit scores?Today I have 564 588 654...I am hoping to have my mid-score up 10 pts by tomorrow, and then i am applying for the loan with the bank. I want a fixed rate, 100% financing, 30 yr loan for $160,000. My income and debt ratios are good. I am closing on the Aug 6th. I have already had the house appraised at $162K, I am paying over $5K in closing costs, and the house has been inspected. This is my first home purchase, is there anything I am missing? - asked by PrincessB

Answer: ... - answered by: brokerstorage
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Question: #27: What should I expect for interest rate on amulti-unit building?
Does anyone know what interest rate is typical right now for a loan on a multi-unit (12 units) building? Also what down payment percentage is typically required for this type of building and how that affects interest rate. That is if you have 20% down will that change the interest rate compared to having 10% down. - asked by jds792

Answer: ... - answered by: Landlord
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Question: #28: What is a reasonable interest rate for a used carloan?
I plan on purchasing a used car from a local dealer, and go shopping at several car dealerships. What is, in your experience, a reasonable, most used interest rate for the car loan financed through the dealership? - asked by Amber B

Answer: ... - answered by: Gabriella B
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Question: #29: What is the difference between a mortgage APR andInterest Rate?
My mortgage interest rate is 6.875% and the APR is 7.504% Does the APR of 7.504% sound right if the interest rate is 6.875% ? My mom said that the 2 numbers should be closer together than that. Also, my mortgage banker never even mentioned an APR, and since we are 1st time home buyer's, we were unaware of it. We only knew about the Interest Rate. Thanks for the help. - asked by Olivia

Answer: ... - answered by: Gregorio
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