600000 over 120 months at 5% interest,what would payments be?
Answer:
$6363.93
I got $5250 per month.
Here is how:
Take $600,000 and multiply by 1.05 to get your total with interest. Divide by 120.
This is for simple interest, if it is compounded some other way, it's a different process.
approx. $6364/month
Go to www.bankrate.com for all of the calculators you need.
Don't forget the taxes!. (just suppose that the taxes is 20% of interest)
and. there are banks which will offer till 7% per year. this will be how your money rises!
year 00 - $ 0,600,000.00 (the day you deposit)
year 01 - $ 0,633,600.00
year 02 - $ 0,669,081.60
year 03 - $ 0,706,550.17
year 04 - $ 0,746,116.98
year 05 - $ 0,787,899.53
year 06 - $ 0,832,021,90
year 07 - $ 0,878,615.13
year 08 - $ 0,927,817,58
year 09 - $ 0,979,775.36
year 10 - $ 1,034,642.78
If you don't touch the money for 120 months + 1 day, you will receive your initial $ 600,000.00 + 72.44% ($ 434,642,78)
.
But are companies looking for investors that pays almost 7% a year offering partnerships!
You should think before doing anything with your money. but don't think too much. time IS money!
Have a great day.
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