How do I calculate a monthly finance charge?
I'm starting a small business, and I would like to offer financing to my customers, but I'm unsure of how to calculate monthly finance charges based on APR.
For instance, if I financed $ 700 at 20% APR over 24 months, how would I calculate a customer's monthly bill?
Any help is appreciated! Thanks.
Finance best answer:
Answer by Jay Garrick
I'm not entirely sure.
Finance
International Finance Centre
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