This is how a lease option should work: After securing the go-ahead from a mortgage broker and before moving in, your potential buyer will give you a healthy, nonrefundable deposit to go toward the down payment of the house -- typically, 3 to 5 percent of the purchase price.
The Simple Interest Calculation Formula is: Loan Amount (in dollars and cents) x Interest Rate x Time (in days) = Total Interest. You must select the values to enter the Starting Month, Day and Year, and the Ending Month, Day and Year for the time of loan. Enter the amount of the loan and the simple interest rate. Click on Calculate. The calculation is done in days, EXACT calendar days!
This number is typically monthly, so if a lender says the small business has two years to pay the loan back, the number of periods is 24. For example, a small-business owner obtains a loan for $20,000.He has two years to pay the loan back and the lender provides him with a 6 percent interest rate.Step 2. Calculate the monthly interest rate.Lenders will provide the interest rate for the year, so the rate must be divided by 12 to determine how much of the interest applies on a monthly basis. In our example, 6 percent divided by 12 months equals 0.005.tep 2. Calculate the monthly interest rate. Lenders will provide the interest rate for the year, so the rate must be divided by 12 to determine how much of the interest applies on a monthly basis. In our example, 6 percent divided by 12 months equals 0.005.