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| *SoulEyes Photography>>>Wedding Photographer |
Need help figuring payments and interest on short term loan? |
I am a wedding photographer and one of my clients is now in breech of contract for nonpayment. I have no use for her pictures and would prefer to have my $$. In my contract I financed interest free for 4 months with payment due before wedding. Bride had sob story and I extended for two month. STILL no money two month later. I am now sending her a Consumer Loan Agreement with interest. I have never done this and can not figure what the payments plus interest will be. HELP! The principle is $1318.07. The interest is 19.99% and there will be three payments starting Sept 30, Oct 15 and Oct 30. Any sharp financial types out there able to help a photographer out? Your loan payment will be $675.47. Payment Summary Event Amount Term Period Loan $1,318.07 1 Payment $675.47 1 Payment $675.48 1 Payment Schedule Event Loan Payment Interest Principal Balance Loan 1 $1,318.07 $0.00 $0.00 1,318.07 Payment 1 675.47 $21.86 $653.61 664.46 Payment 2 $675.48 $11.02 $664.46 $0.00 Grand Total $1,318.07 $1,350.95 $32.88 $1,318.07 $0.00 Less than $525 per month , but if you can't do the math , You might be better off in small claims court . > |
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