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Friday, November 25, 2011

INSTALLMENT LOANS WITH INTEREST RATE CALCULATION


WHY INTEREST CALCULATION OF CREDIT NEED TO KNOW ?

The calculation used the bank loan interest will determine the size of installments of principal and interest payable on loans Debtor received from the bank. Understanding of the various interest calculations will help the debtor in making the decision to take the most profitable credit sesuaidengan financial capacity.


HOW TO CALCULATE INTEREST ?
Some of the methods used by banks in calculating interest include :
  1. Flat Rate
       Interest calculation is based on credit limit and the amount of interest charged is allocated   proportionally according to the time period of credit. In this way, the amount of principal payments
and mortgage interest every month same magnitude.
 example :
        A bank gives a credit of Rp6.000.000, -for 6 months to the debtor C with an interest rate   12% per  year flat rate.
Total Interest            = Pl x i x n
Interest per month     = Pl x i / 12
Pl = loan ceiling
i = interest rate per year
n = credit period (years)
Installment Debtors Table C - Flat Rate

Months Balance principal installments installments of interest Number of installments
1 6.000.000 1.000.000 60.000 1.060.000
2 5.000.000 1.000.000 60.000 1.060.000
3 4.000.000 1.000.000 60.000 1.060.000
4 3.000.000 1.000.000 60.000 1.060.000
5 2.000.000 1.000.000 60.000 1.060.000
6 1.000.000 1.000.000 60.000 1.060.000
6.000.000 360.000 6.360.000
   Effective (Sliding Rate)
Interest calculation is done every end of the period installment payments. In this calculation, Loan interest is calculated from the final balance of each month (debit tray) so that interest debtor is paid monthly decline. Thus, the amount of installments paid debtor will be getting smaller every month.
     example :
A bank gives a credit of Rp6.000.000,-  for 6 months to the debtor C with an interest rate
12% per year rate of sliding
        Interest per month     = SA * i / 12
SA = end of period balance
i = interest rate per year
Installment Debtors Table C - Sliding Rate

Months Balance principal installments installments of interest Number of installments
1 6.000.000 1.000.000 60.000 1.060.000
2 5.000.000 1.000.000 50.000 1.050.000
3 4.000.000 1.000.000 40.000 1.040.000
4 3.000.000 1.000.000 30.000 1.030.000
5 2.000.000 1.000.000 20.000 1.020.000
6 1.000.000 1.000.000 10.000 1.010.000
6.000.000 210.000 6.210.000

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