Solve this maths

[Cali_Gaab]

You buy a fone of 130 pounds and pay nothing for 3 months.
You pay interest of 27% APR, how much do you end up paying

[Executive]

Are you saying u have already paid for the phone? if not

Is the interest charged on monthly basis or annually?

What are the monthly installments after the 3 monthss and what is the the duration of the contract??

[Cali_Gaab]

I'm looking to get it but it doesn't say if the interest is charged on a monthly basis or a one of.

Suppose it is on a monthly basis for 3 months, how much would i end up paying?

if it's too much i probably think it will be only 1 month.

[shaamboo]

Are you saying u have already paid for the phone? if not

Is the interest charged on monthly basis or annually?

What are the monthly installments after the 3 monthss and what is the the duration of the contract??

APR is always annually (annually principle rate )

[Executive]

Cali_Gaab


Its a ripp of, Don't do it brother. You might end up paying 165-170 pounds if it takes you a year to finish it off.

27.5% APR is very high. We offered these H-P contacts at my previous part-time job and people pay a lot more than anticipated. Look for other deals.

[Executive]

Are you saying u have already paid for the phone? if not

Is the interest charged on monthly basis or annually?

What are the monthly installments after the 3 monthss and what is the the duration of the contract??

APR is always annually (annually principle rate )

Don't be stupid, If it takes him 6 months to pay it of, They will charge him interest on MONTHLY basis not Annually. It all depends on the duration of the contract.

[shaamboo]

again the meaning of APR is annually principle rate that is what it means

[Executive]

^ Contacts do not always last 12 months therefore the nominal APR is not always applicable.

[shaamboo]

Contacts do not always last 12 months therefore the nominal APR is compounded monthly.

in that case they have to specify as monthly apr

[Executive]

good that was my point.


Anyway why are we talking about this, Interest is Haram, Cabdi_gaab dont take this deal!!

[shaamboo]

lool i am pored , intrest is xaraam but when u live in the west you dont have much of choice sxb

[Rayan_08]

Actually if you want to calculate three months interest all you have to do is divide the APR by 12 and times it by 3

[Cali_Gaab]

Exec....you know where i can but pay as you go phones then so i can forget the contract?

[Cali_Gaab]

Buy a pay as you go fone i mean.....reading emperiors topics and replies is seriously having it's toll on me.

[DisplacedDiraac]

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