Interest is charged, for example, when you take out a loan or borrow money from someone else. The interest means you always have to pay back a few percent more of the total amount borrowed. Nowadays, interest rates are present in many areas anyway, which is why I can't imagine anything other than banks being…
Hello everyone. As you can see in the picture, a loan of €68,000 was taken out. However, a total of €105,311.81 still needs to be repaid. I don't understand the formula. 😫 I've already calculated 68,000×180×6.5 ÷(100×12), but I can't get that amount either. Maybe there is someone here who can help me. Greetings Luisa
Hello, I have an old exam question about retirement planning. Can anyone help me? Fritz Müller, born in 1980, inherits CHF 500,000. He intends to set this money aside as a "lump sum for retirement"—he plans to retire at age 60. As an economist, he knows that he must also assume a possible inflation scenario….