Clipping of news on Brazilian Culture, Law and Citizenship
09/29/2016
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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The consumer who buys a loan or loan, often only concerned with the value of the portion to be paid. Experts give tips on how to calculate interest and ensure the best market rates
On the calculation of interest experts give some tips. The personal financial adviser Kleber Rebolledo says consumers should look at the total effective cost (CET), rather than the interest rate. "The lower the CET, cheaper is funding. Put simply, simply divide the total amount paid over the financing, the amount borrowed subtract 1 and multiply by 100, "he explains. As an example cited: borrowed R $ 100 and paid 12 installments of R $ 10, the total R $ 120 (CET = 120/100 - 1 x 100 = 20%).
The economist and professor Allison Martins notes that the repayment system (payment system) most used in loans and financing are the Price Table and the Constant Amortization System (SAC) and each of these systems have different ways of calculating interest. "It is suggested that consumers use simulators, applications and spreadsheets available on the internet," he says.
Miguel Ribeiro points out that Anefac has research showing that consumers only look at the value of the service and does not care about the interest paid, which is a mistake. To calculate the interest he suggests the "Calculator Citizen" of the Central Bank (http://www.bcb.gov.br) that simulates the daily financial operations from information provided by the user. Remember that most consumers do not have a financial calculator to calculate compound interest and with this tool you can do it.
The economist Gilberto Barbosa also points out that the interest is calculated in compound basis. Ie interest on interest. Said that the mathematical formula can be found in http://www.somatematica.com.br/emedio/finan3.php.
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What is bank loan?
It is a contract between the client and the financial institution for which he receives an amount that must be returned to the bank in a given period,
plus the agreed interest. The resources do not have specific destination
What funding?
As the bank loan, the financing is a contract between the customer and the financial institution, but with specific allocation of resources taken, for example, vehicle purchase or immovable property.
Generally funding has some type of collateral, for example, liens or mortgage
Source: People
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This article was translated by an automatic translation system, and was therefore not reviewed by people.