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I work on auto loans and get customers who do not understand how simple interest works and I am looking for the best possible and concise way to explain it. I have not been able to locate a Spanish contract to show how it is explained initially.

  • Posted Sep 17, 2009
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If you are a little good at speaking spanish, you just explain it as it is. There's not like One Way To Say The Thing...just explain the thing. Si tomas un prestamo, entonces hay que pagar la interes que viene con ella. Por exemplo, se te prestas...tal calidad... la interes que va con ella es....tal calidad mensual. wink

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If you are a little good at speaking spanish, you just explain it as it is. There's not like One Way To Say The Thing...just explain the thing. Si tomas un prestamo, entonces hay que pagar la interes que viene con ella. Por exemplo, se te prestas...tal calidad... la interes que va con ella es....tal calidad mensual.

the above is good ( relatively speaking)

but try this if you wish,

Si aceptas un prestamo, tiene que pagar interes ( interes es lo que cuesta prestar dinero)lo que cobran por prestarte el dinero.Pero, en un caso simple, si pides prestado 100 ( pericos , Guatemalan word for dollars) te cobrarian - digamos 10 dollares, entonces ya no deberias 100 dollares si no 110 dollares. Bueno este es un caso muy simple pero es mas o menos.

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interes simple

9% de interes simple,quiere decir lo que pagarias por un prestamo en un año. Supongamos que te prestaran 500 (pericos,guatemalan slang for dollars)dolares por un año. El interes(el costo del prestamo) seria:

I (interes)9% de $500.00 por un año o 0.09 X $500.00 x1 ( un año)= $45.00 el prestamo de $500.00 te costaria 45.00 dollares. esta es la formula, I=pxrxt

I es el interes p es el principal o la cantidad que pides prestado r es el percentage (%) que te cobran por el prestamo t es el tiempo que dura el prestamo.

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¡Hola! Glendadunaway:

Your computer probably has Microsoft Excel as a “spreadsheet” program. If so, open Excel, go to “Open” then “New” file. Look for an Excel template called “Amortization” or “LoanAmortization” and when you find it, open it on your computer screen.

You should now have a screen asking you to enter the following data:

• Loan Amount

• Annual Interest Rate

• Loan Period in Years

• Number of Payments Per Year

• Start Date of A Loan

If you enter this data as your client/borrower observes, the client can see how the computer generates monthly payments, the interest portion of the payment(s), the principle portion of the payment(s) and the outstanding balance of the loan after applying the payment(s). After the “Amortization Table” has been developed, you can review the important factors and answer any questions your client may have.

Sometimes the best explanation is just a good example that the client feels they participated in.

If you don’t have Excel or a similar program on your computer, another spreadsheet program will do just as well as long as it has an amortization template on it. If you don’t already have an amortization program (or template) on your computer, search Microsoft’s site or the wider web for “Amortization Table” in English or “Tabla de Amortización” in Spanish for an example or for a software program that will serve you.

I hope this is some help to you. Buena suerte.

Recuerdos/Best Wishes.

Moe

  • ¡Jesús! Otro hombre que lo sabe todo! :) - 00494d19 Sep 19, 2009 flag
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