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OfflineMojo_Risin
Man

Registered: 03/31/01
Posts: 2,838
Loc: United States of America ...
Last seen: 1 year, 1 day
Does anyone know how to calculate monthly APR for a business?
    #4209983 - 05/23/05 02:46 PM (11 years, 7 months ago)

I'd like to learn the formula .

Like say if my business income was $2000 a month throught credit transactions, and the APR was at 1.83%

What would be my monthly balance due to the bank?


--------------------
Fear    attracts  energy  that can expose one to be coerced. Learn to overcome fear and develop enlightenment.


Freedom Equality Justice (3 of 12 Jewels of Life)

Nov.11th Veterans Ron Paul Moneybomb...www.Ronpaul2012.com

Check out campaignforliberty.com


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InvisibleLiz
Owl Lady
Female User Gallery

Folding@home Statistics
Registered: 11/16/04
Posts: 6,962
Loc: Massachusetts
Re: Does anyone know how to calculate monthly APR for a business? [Re: Mojo_Risin]
    #4210007 - 05/23/05 02:51 PM (11 years, 7 months ago)

$36.06

You take the balance ($2000 in your example) and multiply it by .0183. Move the decimal point 2 spaces to the left.


--------------------
Remember, remember the fifth of November
The gunpowder treason and plot.
I see no reason why gunpowder treason
Should ever be forgot.




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OfflineMojo_Risin
Man

Registered: 03/31/01
Posts: 2,838
Loc: United States of America ...
Last seen: 1 year, 1 day
Re: Does anyone know how to calculate monthly APR for a business? [Re: Liz]
    #4210023 - 05/23/05 02:53 PM (11 years, 7 months ago)

I thank you for the correct explanation.

5 Shrooms for you.

& :heart:


--------------------
Fear    attracts  energy  that can expose one to be coerced. Learn to overcome fear and develop enlightenment.


Freedom Equality Justice (3 of 12 Jewels of Life)

Nov.11th Veterans Ron Paul Moneybomb...www.Ronpaul2012.com

Check out campaignforliberty.com


Post Extras: Print Post  Remind Me! Notify Moderator
InvisibleLiz
Owl Lady
Female User Gallery

Folding@home Statistics
Registered: 11/16/04
Posts: 6,962
Loc: Massachusetts
Re: Does anyone know how to calculate monthly APR for a business? [Re: Mojo_Risin]
    #4210033 - 05/23/05 02:55 PM (11 years, 7 months ago)

you're quite welcome.  I get paid to deal with those calculation (I'm an underwriter at a mortgage company)  so if you ever have any more, feel free to ask :laugh:


--------------------
Remember, remember the fifth of November
The gunpowder treason and plot.
I see no reason why gunpowder treason
Should ever be forgot.




Post Extras: Print Post  Remind Me! Notify Moderator
OfflineMojo_Risin
Man

Registered: 03/31/01
Posts: 2,838
Loc: United States of America ...
Last seen: 1 year, 1 day
Re: Does anyone know how to calculate monthly APR for a business? [Re: Liz]
    #4210064 - 05/23/05 02:59 PM (11 years, 7 months ago)

I certainly will, have a mirthful day :smile:


--------------------
Fear    attracts  energy  that can expose one to be coerced. Learn to overcome fear and develop enlightenment.


Freedom Equality Justice (3 of 12 Jewels of Life)

Nov.11th Veterans Ron Paul Moneybomb...www.Ronpaul2012.com

Check out campaignforliberty.com


Post Extras: Print Post  Remind Me! Notify Moderator
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