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How do I calculate a monthly finance charge?

I’m starting a small business, and I would like to offer financing to my customers, but I’m unsure of how to calculate monthly finance charges based on APR. For instance, if I financed $700 at 20% APR over 24 months, how would I calculate a customer’s monthly bill? Any help is appreciated! Thanks. Related Videos ...Related posts:business? What kind of business should i start up? What is the best finance related job for someone who hates cold calling, but has a bachelors degree?

 

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