Loan calculation - how to calculate loan payments?
How to calculate loan payments - a formula for calculating a loan will help.
How to calculate a loan?
Currently, people take loans in the bank for different purposes. And only a small part of them has an idea of how interest is calculated on it. Most banks give loans to their customers on the terms of annuity payments. How does this look in practice? It's simple. This means that the borrower will pay the bank the same amount every month. This, in general, is convenient for both the borrower and the bank.
How to calculate a loan? To calculate the loan with the same amount of payment there is a special formula for calculating the loan. It is based on the annuity coefficient, which is used to calculate all the parameters of the loan.
a = p * (1 + p) n / ((1 + p) n-1)
where, and is the annuity coefficient that must be found.
R. - is the interest rate ratio. It is calculated by the formula:
p = s / 1200
c is the interest rate on the loan, indicated by the bank, in annual terms.
And n is the repayment period in months.
How to calculate a loan? Using another formula, you can calculate the size of the monthly payment, which is aimed at repaying the loan itself:
s = a * k, where
s - monthly payment
a - annuity factor.
k here is the loan amount.
The following formula is used to calculate the total cost of a loan:
s = n * sa
Where s is the required payment amount,
n - the period for which the loan must be repaid,
sa - monthly loan payment.
To find out the size of the overpayment, the following formula will do:
sp = s-k
s - the sum of all payments on the loan,
k is the loan amount
sp is the requested overpayment.
How to calculate loan payments? Well, let's try to consider a specific example and calculate the size of the loan. Suppose that Ivan Petrovich decided to take out a loan. He went to the bank and asked for a loan in the amount of 140 thousand rubles. for a year. The bank decided that it would be able to issue such an amount at 24% per annum. Guided by the above formulas, we calculate the interest rate ratio:
p = 24/1400 = 0.02
The annuity coefficient is calculated by the formula:
a = 0.02 * (1 + 0.02) 12 / (((1 + 0.02) 12 - 1) = 0.094571
The monthly payment, which Ivan Petrovich will be required to give to the bank, will be:
sa = 0,021779 * 140000 = 11 348.52
Knowing the amount of the monthly payment, we calculate the amount that Ivan Petrovich will have to return to the bank:
s = 11,348.52 * 12 = 136,182.24
Eventuallythe amount that will need to be returned to the bank - 136,182.24 rubles. If Ivan Petrovich took 120 thousand, it means that he overpays 16 182, 24 rubles.
For the sake of justice it is necessary to say that, this example has some kind of error; The annuity factor here is somewhat rounded.
How to assure the work book for the bank? Copies of correctly certified documents are sooner or later required to be given to different organizations: for example, to the OVIR for obtaining a foreign passport or to the bank for obtaining a mortgage, loan or other loan. So, in order to receive a loan in a bank, in addition to a passport, you will need to present a certified copy of the employment record. Who is authorized to certify a copy of basic documents and how to do it correctly?
How to assure the work book for the bank?
As a rule, the original of the work record is always kept by the employer, in the personnel department. No one has the right to hand over this document without the permission of the management.Even if you need to go with her to the next room to make copies there. Therefore, you must first write a statement to the head of the request to provide a duly certified copy of the employment record. In the application, you can indicate the reason why you needed this document. If the reason is not specified, no one will be able to refuse you anyway, and within three days the personnel department is obliged to issue a copy of the work record.
If the organization in which you work does not have a personnel department, then the responsibility for verifying a copy of the document will fall on the employee who is authorized to perform the functions of personnel service. It may be the chief accountant, or the manager himself must certify the book.
Labor book copies can be made by any available means: use a copy machine, scan and print through a printer, or reprint all the information on a typewriter. But one requirement must be fulfilled rigorously - all pages of the document must be copied, including those sheets, which reflect the date of issue, the assigned number and other information.It is desirable to make a copy of each turn of the book on a separate sheet of A4 paper, while ensuring that all the records on the copy are clearly printed.
Having received a copy of the document in your hands, you should definitely check that it is certified. To assure a copy of labor, you can use two methods. In the first case, on each page the inscription "copy is true" or the same stamp, the signature of the authorized performer and the seal of the organization is made. On the final page, under all the entries, there must be an additional entry “working for the present”, position, signature, decryption of the artist’s signature and a date. Pay attention that the seal of the organization is half stamped, i.e. one part on an empty field, and the second on the records of the workbook. The print should not be blurred, all letters, numbers and symbols should be clear.
In the second case, a copy of the document can be certified "in bulk". To do this, each sheet must be numbered with a pen in the lower right corner. Then all the sheets are stitched with white thread, punctures are made only in two places, the threads are fastened together.On the very last page there should be a witness inscription - “It is stitched, numbered and sealed with N number of sheets of seal”, “the copy is correct”, the signature of the contractor indicating the position, decryption of the signature and date is put. Then all records are sealed by the organization.
In this form, a certified copy of the workbook is required to accept any bank. This is the main confirmation that their potential client is currently a working person.
How to assure the work book for the bank? A copy of the employment record will be valid for one month. It should be noted that if additional entries appeared in the employment office, you changed your position or left the job and changed jobs, the copy automatically becomes invalid.
What if at the moment you are not working anywhere? In this case, the work book should be in your hands. And in order to assure this document for the bank, there should not be any difficulties, just need to contact the notary.
How to assure the work book for the bank? In accordance with the Fundamentals of the Notary Law of the Russian Federation, the notary will not immediately give you a certified copy of the document.Before this procedure, he is entitled to ask you for a passport or other identity document that you have. Or a passport can be replaced by a specially designed power of attorney, which indicates all powers and compiled according to all the rules, in accordance with the legislation of the Russian Federation on the notary.
The notary has no right to certify copies of the original, if it contains corrections, erasures, notes in pencil, unreadable words or indistinct impressions of seals, or the document has integrity.
If in your work there are corrections and strikethroughs, then there should be a “corrected believe” mark, the signature of the authorized person and the stamp of the organization.
Also, if a liner is issued to the labor, then on the title page a note is put on it “the liner is issued, number, series, date of issue, signature, transcript, date, stamp”. When changing the surname or other data, the title page should also contain an entry “Changed surname to ____, signature, date, seal”.
Having ascertained that it is you who own the employment record book, having made sure of the integrity of the original, the notary will remove a copy from each page and verify it properly. The whole procedure can last from a few minutes to an hour.A copy, notarized, has a validity period. It will be the same as the workbook. Also, if you change jobs or quit, the notarized copy of the notary will not be valid.
How to fix credit history? Breaking is not about building. That and ruin the credit history is a big job, but to fix it will have to try. But how?
How to fix a credit history? To begin with, we will outline the problem, that is, we will find out how the borrower's credit history deteriorates. This does not mean that someone took a loan and simply did not return it. No, this is generally extreme. Even a monthly payment delay of one day, and sometimes even an hour, can ruin a credit history. Information about this will immediately appear in the credit bureaus. But the borrower himself is not always to blame. There were also cases of failures in the work of the bureau itself. Unfortunately, anyone can be in such a situation, because storing such a huge amount of information is not easy. No one is immune from mistakes. Here, the only possibility for a borrower not to get into such a situation is how to say “keep abreast of”, i.e.check your credit history from time to time. This process will not take you much time, but it will give you confidence that the next time you apply to the bank for a loan you will not be denied due to your unreliability.
But if your credit history is still stained, do not be discouraged. It is not necessary now to forever refuse loans. Any credit history can be corrected, you need to attach only a dumb desire and everything will work out for you. So, to fix your credit history, take a loan ... Yes, yes, it is a loan. Go around several banks, and one of them will definitely give you a small loan to buy, for example, some small thing. This may be a hair dryer, microwave, it does not matter. The main thing is that you will be able to repay this loan in a few months, and their contributions will not be ruinous for you. After you return the loan for one purchased item, take another one. Thus, your credit history will improve right before your eyes.
Unfortunately, this option is not suitable for people who need to take a loan correctly and urgently, and they simply do not have time to buy a lot of home appliances to demonstrate their reliability to the bank.But since it is not possible to remove your credit history from the bureau, if it was certainly not an erroneous entry, then, unfortunately, such people are most likely denied a loan.
How to fix a credit history? The credit history is removed from the database only if the borrower does not use the loans for at least 15 years.
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