Personal Finance. How Do You Figure Accruing Interest Form A Couple Of Years Ago?

Personal Finance : How Do You Figure Accruing Interest Form A Couple Of Years Ago

If a person has a judgement on someone from december 21, 2004 with the accruing interest rate of %, how do you figure the total owed? ~~~ kimi06 ~~~

Best Answer To Personal Finance Question

You didnt really provide enough information to answer this. How is the interest computed, on a monthly basis or quarterly or yearly? if you owed 1000 dollars on 12/21/2004 the interest accrued (assuming % is yearly) = % / = $ by the end of 2004. so now you owe on which you pay : * = $ owned by 12/31/2005 and so on.

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Answer 1

You didnt really provide enough information to answer this. How is the interest computed, on a monthly basis or quarterly or yearly? if you owed 1000 dollars on 12/21/2004 the interest accrued (assuming % is yearly) = % / = $ by the end of 2004. so now you owe on which you pay : * = $ owned by 12/31/2005 and so on.