Apr 2 2012, 11:34 PM
QUOTE(doncityz @ Apr 2 2012, 04:16 PM)
THAT IS HOUSE LOAN LAHH!! WTF!?
Car loan interest is calculated straight away for the whole tenure.
Say, u take 100K loan for 5 years and interest is 3% per year, then
straight away your monthly can be summed as:
Interest Calculation Per Year: 100K * 0.03 = RM3K.
Interest total for 5 yr - 3 x5 = RM15K.
So total you need to pay back to bank = 115K over a period of 5 years.
So that makes your monthly repayment of RM1916.00 per month.
Damn fail la u cherroy. Talk like terror lidat but calculate car loan also fail.
Cherroy is right, you are the one who doesn't understand house loan.Car loan interest is calculated straight away for the whole tenure.
Say, u take 100K loan for 5 years and interest is 3% per year, then
straight away your monthly can be summed as:
Interest Calculation Per Year: 100K * 0.03 = RM3K.
Interest total for 5 yr - 3 x5 = RM15K.
So total you need to pay back to bank = 115K over a period of 5 years.
So that makes your monthly repayment of RM1916.00 per month.
Damn fail la u cherroy. Talk like terror lidat but calculate car loan also fail.
House load installment pay off interest and and reduce principle so your interest each year is getting lesser and lesser!
Hire purchase loan pay off interest but don't reduce your principle, your interest amount is fix throughout the loan period
3% car loan is actually higher than house load 3%.
Quote
0.0189sec
0.59
7 queries
GZIP Disabled