what is a installment account?
446479
An installment loan or account is what is known as a closed ended loan. The opposite of that would be an open end such as a credit card. With a credit card you pay a percentage of that loan each month and can continue to re-borrow back on it. With an installment loan or closed ended loan you have equal monthly payments over a certain period of time generally at a fixed rate. You, however, cannot re-borrow from this loan. In order to get more money you have to refinance it. Basically do a new loan. Good examples of Installment loans are mortgages, car loans etc...
743226
Monthly, Quarterly, half yearly and yearly.\n\nMonthly generally we enable ECS where account gets debited online. You can pay by DD also or by cheques but collection charge will be there
780962
Request a statement of account. All transactions will be listed.
1146153
Not if it is an installment payment, then it is just that payment you are paying in full.  The issue of good faith also comes into play, where the payee has to have made the payment in good faith after reaching an accord with the creditor.  In some states the other party can still cash the check and still has a resonable time to pursue collection action for the balance.\n\nAlso, in addition to clearly marking "Payment In Full" on the check, it must also (by federal law) be accompanied by an attached written communication stating that the check is intended as payment in full.  And the check must go to the creditor, not to a lock box.\n\nSo yes, it might work, in some states.  But if you owe $100,000, and send a check for $1000, unless you can prove that the payment was sent in good faith the other $99K just isn't going to disappear.
867569
Demand deposit account
857005
If you agreed to be a co signer on a fixed term finance contract, then your obligation is over once the loan is paid off. If you cosigned on a revolving account (which is what most stores offer) you are liable for any and all charges on that account. You would need to close the account, and have your brother apply for an account in his own name alone, or else he can add items to the account and you are liable.\n\nA revolving account is just like any other credit card, where you can charge additional items up to the credit limit!
1010683
If you take out a loan, the amount you are loaned is called the "principle". The bank loans it to you at a certain rate called the interest rate. You have to pay back the principle, PLUS the interest, over the life of the loan.\n\nIf your loan has compound interest, you not only have to pay back interest on the principle, but interest on the unpaid interest itself. To compute the amount of compound interest, you have to take the "life" of the loan (the amount of time the principal is loaned for) and divide it by some interval, called a payment interval. You also divide the interest rate by the same interval. Then you can compute the amount of unpaid interest over that interval, and the interest on the interest.\n\nIn continuous compounding, the payment interval is essentially zero, resulting in an infinite number of infinitely small payments. It turns out that for problems of this type, there is a mathematical limit toward which the payment converges as the interval gets closer and closer to zero; so you can use that mathematical limit to determine the amount of the interest under continuous compounding.
524974
You don't need an installment loan.  More often than not, they pull you DOWN.  Who told you that?
372348
Interest = Cash/Debt\n\nInterest is a percentage cash payment regularly paid to a creditor from a lender according to an agreed-upon rate.  No shares are involved the only thing the lender owns is the debt itself.  (When you use a savings account in most cases you are the lender and the bank is the creditor.)\n\nDIVIDEND = Equity\n\nA Dividend is a payment to a shareholder based on ownership of some sort of non-cash, non-debt equity such as a share of stock, mutual fund, credit union share, or money market account.  Not all dividends are paid regularly, not all are paid in cash, and they are usually not based on published rates.
922602
define i = apr/12\nP = quantity (principle)\nn = time (months in this case)\n\nThe calculation formula for payments is\n\np = iP/(1-1/((1+i)^n))\n\nplugging in the numbers,\n\np = (0.01/12)(17,500)/(1 - 1/((1+0.01/12)^72))\n\nOh, if you just want future amount at compound interest, \n\nA(i,n) = A(1+i)^n\n\nA = 17,500(1+0.01/12)^72
350295
To figure the payment on an installment loan, use the PMT() function in Excel, if you have that. If not, the formula can be derived from the present value formula and the perpetuity formula. The present value of a future cash flow is the future cash flow divided by (1 + Rate/frequency)^(years x frequency). The present value of perpetuity (the same amount paid every period) is amount per period/(Rate/frequency). Thus a 7 year installment loan with monthly payments (frequency = 12 payments per year) and an 8% interest rate can be valued as the difference between a perpetuity starting now and a perpetuity starting in 7 years. Thus:\n\n600,000 = (Payment/(8%/12))x(1 - 1/((1+(8%/12))^(7 x 12))\nThe interest per month at 8% would be 4,000, not the 3,946 you calculate, so I am unaware of the particular detail of why that is different. The formula above results in a monthly payment of about 9,352. If you want to check it the long way, deduct the interest from the payment, and that is the reduction of principal that period, so you can recalculate the interest for the next period and see how much more the principal declines. If you carry this out to the maturity, the balance should be zero.
604602
Commonly these loans are called as "Term Loans" - because these are payable over a period i.e. "Term" with regular (specific) amounts towards repayment. Regular payments are called as "instalments". The Instalments over the period of loan which are inclusive of Interest are called as "EMI" i.e. equated monthly instalments. Otherwise you can prefer to repay the loan in instalment + what-ever interest accumulated for that particular period. In this case Total Repayment (i.e.Pricipal + Interest) amount decreases with every repayment. In case of repayment through EMIs total amount repayable every time remains same.
336902
You need to set up some accounts and pay your bills ontime
1119472
With factoring you essentially sell your accounts receiveable to a third party who pays you less than he AR's face value.  \n\nWhen you pledge AR you are pledging the AR as collateral for a bank loan.
705943
its a payment that U set up for an amount to come out at a certian point.  I have a standing order set up for money to come out of my account each month and go into a joint account.  If you call you bank they will be able to explain in more detail.
845814
Usually 3 payments . One at september , january and april
788283
hi, well 'posting' is quite a broad term and I presume you mean 'posting a transaction' or 'posting an entry'. Not trying to sound like your teacher; but 'posting' will depend on each kind of transaction. There are 1) assets, 2) liabilities, 2) equities, 4) revenues and 5) expenses. The 1st three items are reflected in the Balance sheet while the last two in the income statement. Asset and expenses, when increased are DEBIT, when they decrease are CREDIT (DEBIT and CREDIT are two sides of your Journal, the right side is DEBIT and the left side is CREDIT). On the other hand, liabilities, equities and revenues, when increase are CREDIT and when decrease are DEBIT (so they are opposite). eg. If you purchase a car for $10,000, your asset that is your car increases by $10,000 and another asset your cash decreases by $10,000. So car is Debit and cash is Credit, both by $10,000. Similarly you could buy an asset on a loan, so your liability increase which is a Credit and so does your asset which is a Debit. Remember whenever there is a (or more than one) Debit, there is a (or more than one) Credit and both (or all) must be of the same amount so that if Debit is PLUS and Credit MINUS the sum should be ZERO.\n\nFORWARD - well, every month end or year end, you total all your debits and credits in a particular account eg. Cash eg. in August you received $1,000 and at the start of August (or end of July) you had $200 (which means Debit $1,200) and in August you spent $700 (which means Credit $700) then you have a Debit balance of $500. As I said earlier the Journal has two sides for each account. At the end of the month or year every account is closed (as in our example 'cash account' was closed). This is done by balancing the account, eg. in the eg. above the Debit side is $1,200 and Credit is $700, so we will add $500 to the Credit side (this addition to Credit side is called a 'Debit balance' and if it was made to the Debit side it would have been called a 'Credit balance'. This Debit balance (as in our eg. $500) will be forwarded to the next month September. So when you will start the Cash account for September you will drag the 'Debit balance' (which was actually on the Credit side last month to the Debit side in September. It is basically a way to show that what you had at the end of last period you start with the same items (which is quite obvious, wonder why they chose such a tough way of doing it). It must be noted that only Balance sheet items (asset, liabilities and equities) are forwarded. Expenses and revenues are not forwarded they are closed (taken to the income statement).\nHope this helps, cheers.