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2. Rule of 78s - Wikipedia

   en.wikipedia.org/wiki/Rule_of_78s

   Also known as the "Sum of the Digits" method, the Rule of 78s is a term used in lending that refers to a method of yearly interest calculation. The name comes from the total number of months' interest that is being calculated in a year (the first month is 1 month's interest, whereas the second month contains 2 months' interest, etc.).

3. Car finance - Wikipedia

   en.wikipedia.org/wiki/Car_finance

   Indirect financing is arranged by the car dealership where the car is purchased. Legally, an indirect “loan” is not technically a loan; when a car buyer obtains financing facilitated by a dealership, the buyer and dealer sign a Retail Installment Sales Contract rather than a loan agreement.

4. Equated monthly installment - Wikipedia

   en.wikipedia.org/wiki/Equated_Monthly_Installment

   The formula for EMI (in arrears) is: [2] = (+) or, equivalently, = (+) (+) Where: P is the principal amount borrowed, A is the periodic amortization payment, r is the annual interest rate divided by 100 (annual interest rate also divided by 12 in case of monthly installments), and n is the total number of payments (for a 30-year loan with monthly payments n = 30 × 12 = 360).

5. Car buyers and credit: What auto financing means for credit ...

   www.aol.com/car-buyers-credit-auto-financing...

   Car loans are one of the most common types of debt among consumers in 21st century America. While auto loans are not as common as credit cards, the majority of Americans (62%) have an auto loan in ...

6. Loan - Wikipedia

   en.wikipedia.org/wiki/Loan

   Similarly, a loan taken out to buy a car may be secured by the car. The duration of the loan is much shorter – often corresponding to the useful life of the car. There are two types of auto loans, direct and indirect. In a direct auto loan, a bank lends the money directly to a consumer. In an indirect auto loan, a car dealership (or a ...

7. What is compound interest? How compounding works to ... - AOL

   www.aol.com/finance/what-is-compound-interest...

   Here’s what the letters represent: A is the amount of money in your account. P is your principal balance you invested. R is the annual interest rate expressed as a decimal. N is the number of ...