Picking out a rough figure
ItвЂ™s helpful to be able to make a guess at what the 8% interest might be if it is a good one.
Use the example that is previous if Money For absolutely Nothing has offered you ВЈ800, should you accept this? It maybe not an offer that is insultingly stupid you might well need ВЈ800 appropriate now rather than desire to wait while this visits the Ombudsman, however itвЂ™s advisable that you be clear in what you can find should you choose just take the instance ahead.
In this instance the full total interest and charges compensated, maybe not like the first couple of loans, involves ВЈ1,260. Then on average each repayment would have 3 years of interest, so ВЈ1260 x 0.08 x 3 = ВЈ302 interest if these were spread evenly over the 2012-2014 period. Continue reading →