Does the calculation method from 600/10000 make sense?
Hi, I don't understand how they get from 0.06 and then 6% to 7.2%. You have to multiply by 10 and then by 12 to get 7.2%. Who calculates 6% x 12? Please enlighten me. So, just using the formula for the effective annual interest rate (the one with the loan costs x 2400, etc.) on the calculator, I got 4.14%. I looked at another website where the calculation was almost the same, but it was much more understandable. Then, according to the other calculation, the effective annual interest rate would be 6%, ie if you insert the numbers from here into the second image.
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I do not know it either
He talks about monthly installments and then he writes 6%*12=7.2%
I don't understand it either
but without that it is quite stable
He divides the fees over the term and calculates the interest from this
The calculation in the first picture is really hard to understand. In the second picture, however, I can sort of understand it. Quite strange, in any case 😂.
Maybe this will help you
https://www.youtube.com/watch?v=eQwIE5T8U1M
Thank you. I already have a video from this Studyfix site. It explains it quite well. It was just about this incomprehensible calculation 😂. I've even already watched the video 😂. This one is a bit more simplified: https://studyflix.de/wirtschaft/effektivzins-berechner-effektiver-jahrszins-formel-2439