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2. How to calculate interest on a car loan - AOL

   www.aol.com/finance/calculate-interest-car-loan...

   Most lenders use simple interest for auto loans. Interest is calculated based on the amount you owe — the principal — each month. As you pay down your loan, you will spend less on interest and ...

3. How to calculate interest on a loan: Tools to make it easy

   www.aol.com/finance/calculate-interest-loan...

   For example, if you take out a five-year loan for $20,000 and the interest rate on the loan is 5 percent, the simple interest formula would be $20,000 x .05 x 5 = $5,000 in interest. Who benefits ...

4. Is HELOC Interest Tax Deductible? - AOL

   www.aol.com/finance/heloc-interest-tax...

   Homeowners can deduct the interest paid on a HELOC from their federal income taxes as long as they use the funds for home improvements. ... student loans, purchasing a car or going on a vacation ...

5. Rule of 78s - Wikipedia

   en.wikipedia.org/wiki/Rule_of_78s

   The Rule of 78s deals with precomputed loans, which are loans whose finance charge is calculated before the loan is made. Finance charge, carrying charges, interest costs, or whatever the cost of the loan may be called, can be calculated with simple interest equations, add-on interest, an agreed upon fee, or any disclosed method.

6. Debt-to-income ratio - Wikipedia

   en.wikipedia.org/wiki/Debt-to-income_ratio

   The two main kinds of DTI are expressed as a pair using the notation / (for example, 28/36).. The first DTI, known as the front-end ratio, indicates the percentage of income that goes toward housing costs, which for renters is the rent amount and for homeowners is PITI (mortgage principal and interest, mortgage insurance premium [when applicable], hazard insurance premium, property taxes, and ...

7. Car finance - Wikipedia

   en.wikipedia.org/wiki/Car_finance

   The borrower then pays off the financial institution the same as for a direct loan. [citation needed] Typically, the indirect auto lender will set an interest rate, known as the "buy rate". The auto dealer then adds a markup to that rate, and presents the result to the customer as the "contract rate".