Borrowing money – Condenetint Wed, 23 Nov 2022 00:03:23 +0000 en-US hourly 1 Borrowing money – Condenetint 32 32 Bankman-Fried makes his mea culpa in a letter to former FTX employees Wed, 23 Nov 2022 00:03:23 +0000

Sam Bankman-Fried told former FTX employees that excessive borrowing by his own trading firm Alameda Research was responsible for FTX’s demise, insisting he was unaware of margin positions taken by traders.

In a letter to former employees, the FTX founder wrote that he “did not realize the full extent of the margin position, nor did I realize the magnitude of the risk posed by a crash. hyper-correlated”.

FTX generally allowed customers to borrow money in order to increase their bets on cryptocurrencies. But that practice allowed Alameda to take extra-wide positions, which Bankman-Fried said he failed to oversee.

According to the letter, seen by the Financial Times, Alameda entered the crypto crash this spring after borrowing $2 billion from FTX, which was backed by what it claimed was $60 billion in collateral. But by the time Bankman-Fried’s cryptocurrency empire crumbled, that borrowing had grown to $8 billion and was backed by assets valued at just $9 billion.

“I deeply regret my oversight failure. . . I lost track of the most important things in the hustle and bustle of corporate growth,” Bankman-Fried wrote.

Letter sent to employees of his companies gives Bankman-Fried’s most detailed account to date of how FTX plummeted from one of the best-known names in digital assets to bankruptcy in less than two weeks .

Earlier on Tuesday, lawyers for new FTX executives lambasted Bankman-Fried’s handling of the crypto conglomerate, telling a US bankruptcy court in Delaware that the former billionaire ran his company like a “personal fiefdom” and that the group was spending “substantial sums of money”. on items unrelated to the business, such as vacation homes in the Bahamas. Previous bankruptcy filings have highlighted “misuse of customer funds”.

Bankman-Fried said collapsing token prices and “drying up” of credit in digital asset markets following the collapse of stablecoin Terra this spring eroded Alameda’s collateral by about $60 billion to $25 billion.

The position deteriorated sharply in November due to a “hyper-correlated crash”. . . over a very short period of time,” an apparent allusion to the price crash of FTX’s own FTT crypto token earlier this month after CoinDesk, a news service that covers digital currencies, revealed the pivotal role that he was playing on the Alameda balance sheet. Rival crypto exchange Binance responded to the report by announcing its intention to sell its coin stock.

The scale of the problem was amplified as Alameda held $8 billion in client funds owned by FTX. Bankman-Fried claimed that Alameda held these funds from FTX clients because it received money from them before the exchange had its own bank account. Several FTX clients told the FT that they wired money to Alameda which was then to be used on the exchange.

“As we frantically put everything together, it became clear that the position was bigger than its display on admins/users, because of the old [cash] deposits before FTX had bank accounts,” Bankman-Fried said.

Alameda’s assets included large investments in venture capital and crypto tokens that could not be quickly turned into cash.

Bankman-Fried said he regretted putting the entire crypto group into Chapter 11 bankruptcy, “even solvent entities,” and apologized to customers and his former staff.

“You were my family,” he wrote. “I lost that, and our old house is an empty warehouse of monitors. When I turn around, there’s no one to talk to.

The Most Promising Online Businesses for Stay-at-Home Moms Thu, 17 Nov 2022 18:16:23 +0000
Source of images

Mothers are some of the most creative, resourceful and passionate people you will meet. Most of them, however, are so preoccupied with caring for their families that they have little time or energy left to exercise their imaginations.

However, passion will guide you through the many long and exhausting hours of work.

Mothers can make money from their ideas if they put their heart into it. Moms make great business owners because they’re used to juggling multiple roles at once and thriving when given the chance.

These are the most lucrative online businesses for mothers.

Sell ​​photographs

Marketing skills are probably more important than photographic talent when it comes to succeeding as a freelance photographer. It is a competitive industry, so you might look elsewhere for work. Alternatively, you can start a career as a stock photographer. Depending on the subject, a stock photographer may make multiple sales of the same image.

Websites like Shutterstock and iStock allow you to sell your photographs online. If you have a knack for photography, you can sell your images online and focus on a specialized niche market like food photography. So, in addition to borrowing money from lenders, such as, whenever you’re in a hurry, you can choose to sell photos instead.

Content Writing Services

Even though many people run profitable websites, they may not be good at creating great content to help promote their brand. So that’s where you come in. If your writing skills are excellent, offering your services as a freelance content writer to businesses could be a perfect way to earn some extra cash.

As a freelance writer, you work under contract with various media to produce articles and other writing. This company can be organized in several distinct ways. Some writers have ongoing deals with only one or two companies. While some focus on long-term clients, others advertise their writing services to a wider audience and take on clients for shorter projects.

Sell ​​digital products

You won’t need a point-of-sale employee if you’re selling digital products. Payment, shipping, receipt issuance and tracking messages will all be handled electronically. Plus, your profit margins will improve once you factor in the costs of physical materials and other expenses.

Finally, unlike material things, digital products do not degrade over time. They will probably become obsolete very soon. Nothing needs to be stored or warehoused, so it’s one less potential source of trouble.

Craft trade

Crafting is a hobby that can be turned into a lucrative business. The initial investment in an online craft business can be minimal, as this type of business typically does not require a physical storefront, large amounts of inventory, or specialized equipment or materials.

Children love to help their parents with almost any job, so try to include them in your small business. The audience will feel the warmth and you and your loved ones can spend some quality time together. Even small jobs, like putting paint in containers or sorting glitter by color, can be beneficial for children’s development and self-confidence.

Return items for profit

The purpose of “rollover” is to make a profit by selling an item for more than what you paid for. So you keep the price difference as extra money. Product prices are sometimes different across stores and marketplaces, which presents an opportunity for savvy business owners.

Returning old items you buy at garage sales, thrift stores, auctions, or internet markets is a great way to boost your income. There are no admission requirements but your commitment, and once you master the art of bargain hunting, the earning potential is high.

virtual assistant

One of the many benefits of working as a virtual assistant is that it allows you to work from home if you are a parent. This is a fantastic opportunity for mothers who need to adapt to their children’s school schedules or who want the flexibility to work when and where they want.

Everyone needs help from time to time, and a virtual assistant can fill that role. Your tasks as a virtual assistant range from booking hotels to answering emails.

You won’t be limited to working with just one client once you become a virtual assistant. Opportunities to grow professionally, learn new skills and take on challenging tasks are systematically addressed by working with a wide range of clients and being guided by a fantastic in-house team.

Write and sell e-books

Writing and distributing e-books on a subject that you know well is a great and simple approach to earning extra money. Before putting your ebook on the market, it is in your interest to have it reviewed and critiqued by objective parties.

You can sell your ebook directly to readers if you have a website. A PDF version could be made available to readers. The customer goes to your site, makes a purchase, and receives an email with a download link and the book. Everything is handled automatically and you need to keep an eye on the site to make sure it is working properly.

Final Thoughts

Compared to traditional brick-and-mortar stores, running an online business typically allows you to significantly reduce expenses. Plus, it drives more brand interest and customer engagement. However, for stay-at-home moms, online businesses like the ones mentioned above offer them a better work-life balance as they earn and take care of their families from home.

]]> Split U.S. Congressional midterm election result could loom another debt ceiling battle in financial markets Mon, 14 Nov 2022 07:00:00 +0000

Several Republican lawmakers have already signaled that they will use the debt ceiling negotiations as leverage to push for deep cuts in US government spending, potentially in Social Security or Medicare. But Biden, a Democrat, has already ruled out spending cuts for either program.

This sets the stage for a prolonged and bitter confrontation. All it takes is a small cohort of Republican lawmakers to hold their ground, and the United States could be pushed to the brink of default.

Significant budget deficits

The US debt ceiling needs to be raised because the government continues to spend far more money than it collects in tax revenue, meaning it runs large budget deficits. The US Congressional Budget Office estimates that Washington will run annual deficits averaging US$1.6 trillion over the next decade.

To finance these budget deficits, the US Treasury must borrow money. But when it exhausts its power to borrow more money, the US Congress must approve an increase in the debt ceiling.

A failure to lift the debt ceiling could force the U.S. Treasury not to pay bondholders or to prioritize its spending obligations in a way that could disrupt basic U.S. government services and Social Security payments. .

The threat of the US government defaulting on its debts would be a catastrophic blow to confidence in global bond markets and push US borrowing costs higher.

Already, the yield on benchmark US 10-year bonds has more than doubled this year – from 1.71% in early January to 3.89% – as investors worried about rising inflation. (Yields rise as bond prices fall).

A further rise in US long-term interest rates would add to the slowdown in US economic growth.

Moreover, instability in the world’s largest bond market would also ripple through global financial markets, driving up borrowing costs and putting pressure on the price of riskier assets, such as stocks and real estate. .

Some analysts point out that the US government does not need to default on its debt for there to be negative consequences. A similar crisis occurred in 2011 when a Republican Congress tried to force Democratic President Barack Obama to agree to deep cuts in exchange for an increase in the borrowing limit.

The impasse took so long to resolve that Standard & Poor’s finally downgraded the United States’ credit rating for the first time, sending financial markets into a tailspin.

Although Democratic congressional leaders have pledged to lift the debt ceiling while they still control both chambers, it’s unclear whether they have enough time to push the legislation through before the start of the newly elected Congress. early January.

Red flags on FTX that we all seemed to miss Fri, 11 Nov 2022 07:00:00 +0000

Sam Bankman-Fried has managed to seduce much of the crypto world. Now comes the next morning.

As the autopsy from the start of Sam Bankman-Fried’s crypto empire, it’s worth saying that there were red flags everywhere. We missed them.

It was a success story almost too good to resist. In just over three years, FTX would grow from nothing to a $32 billion business. Now it’s gone for nothing.

Along the way, investors, politicians, regulators, and yes, journalists, have dropped the ball. In Bankman-Fried, with his twittering energy, bottomless optimism, and open-mindedness at the deadline, we found a conduit to the crazy world of cryptocurrency that might help make sense of it all.

To accept the image, however, was to suspend disbelief.

The clues were there, often coming directly from SBF itself. Speaking to David Rubenstein, one of the founders of The Carlyle Group and host of Bloomberg TV, Bankman-Fried explained why he started FTX. This would prefigure the disappearance of the exchange.

FTX, according to the man himself, was born out of the frustrations he experienced at Alameda Research, his proprietary crypto-focused trading company.

Alameda was making a lot of money, but she could have made more. Venture capital was not lining up to shell out money to traders in their twenties, regardless of their alleged 100% annualized returns. So instead, Alameda relied on “fitting lines of credit” to build its capital base, Bankman-Fried said.

In a move of what seemed at the time to be brilliant, FTX was able to solve its problems in a simple and elegant way. By building its own exchange, Bankman-Fried could create a platform tailored to Alameda’s trading needs and tick all the boxes to attract venture capital. FTX would adopt the slogan — “built by traders, for traders” – it was a subtle version of what Enron once used for its trading platform.

The VCs were smitten with the young genius now that he had a trade.

For proof, check out the website of Sequoia Capital, the venerable venture capital firm and one of Bankman-Fried’s biggest backers.

In what could be charitably described as hagiography, the company published a magazine-style article in September with quotes from partners describing what they saw in Bankman-Fried. It was titled “Sam Bankman-Fried has a savior complex – and maybe you should too”.

“Awkward, we never tried to reach out to Sam because we thought he didn’t need us,” Sequoia partner Michelle Bailhe said in the story. “I thought they were just minting money and had absolutely no need for investors.” Sequoia recently removed the article from its website.

Sequoia only later discovered that Bankman-Fried was playing video games throughout the pitch meeting. Apparently, that wasn’t the only time he was multitasking while others concentrated on what he was saying. A Bloomberg story about Bankman-Fried claimed he played League of Legends while addressing the Economic Club of New York.

What Sequoia and other investors might have seen, beyond Bankman-Fried’s vision of an everything app where you could buy bananas or bitcoin, was a complex web of interconnected businesses.

The most troubling aspect would be the most obvious.

Alameda, a proprietary trading company, would now be under the same management as a public exchange. Whether planned from the start or just a last ditch effort to save the trading company years later, FTX would be used as a cash cow to keep Alameda afloat.

During an April 2022 appearance on Bloomberg’s odd lots podcast, Bankman-Fried explained how value could be created out of thin air using tokens. Although his explanation left the hosts “stunned” – their word – what he described was an eerily similar process to what we now suspect FTX and Alameda were engaged in. FTX’s token price would have been backed by Alameda, and Alameda would have been using the token as collateral to fund its own trading activities.

You don’t need an MBA to know that leverage — borrowing money to trade with — can be a killer. While it can magnify gains, it can also lead to devastating losses.

Yet Bankman-Fried was a proponent of this trade. At the Bitcoin 2021 conference, he pushed back against warnings that the trading strategy was inappropriate for cryptocurrencies.

“You can take the position that leverage is bad,” he said. said. “You might think so, but I don’t.”

While the full details have yet to emerge, it so far appears that Alameda’s use of leverage contributed to its demise.

Investors who have handed over hundreds of millions to FTX may have been mesmerized by visions of SBF as the world’s first billionaire, but their enthusiasm has not been checked by the media or regulators.

Bankman-Fried was a mainstay on the podcast and conference circuits. He was a staple on the covers of magazines (including Forbes) and made himself available to journalists on time.

As FTX grew in prominence, few questions were raised about how it grew so fast. But Bankman-Fried was doing more than shaping his image with the media. He joined her. In June, the New York Times reported that he was backing Semafor, a media startup founded by alumni of the Time and Bloomberg.

He also opened his life to the biggest name in financial journalism. Michael Lewis, the author of “The Big Short”, reportedly followed SBF for his latest book.

The warm relationship that Bankman-Fried and FTX have cultivated with reporters may have come under closer scrutiny.

Brett Harrison, the president of US crypto exchange FTX, left the company at the end of September without giving a reason. The move raised eyebrows, but reporters saw his reluctance to speak as motivation to shoot an impromptu dance video with him rather than an impetus to dig deeper into what made him go. At least one reporter (from another news organization) dismissed the idea of ​​digging into FTX and Alameda because they had a friendly relationship with the founder.

Government officials were no less captivated by FTX’s prodigies.

Whether it was because of its largesse — Bankman-Fried donated nearly $40 million to candidates in the last midterm election cycle — or because FTX had a revolving door for regulators looking to get into industry, the crypto baron had Washington’s ear.

He has testified to Congress several times over the past year on topics including the regulation of crypto markets, and records show he personally met with SEC Chairman Gary Gensler.

During one of his Capitol Hill appearances, Bankman-Fried extolled the transparency offered to regulators by exchanges like FTX. The comment contrasts sharply with his tweets on Thursday in which he blame the firm’s issues with “internal mislabeling of bank accounts” that led it to miscalculate the leverage that FTX users were employing.

However, not everyone bought FTX’s success story.

For months, Marc Cohodes, the eternal short seller with a working bullshit detector, has been sounding the alarm.

“In my opinion, nothing ever added up,” Cohodes said. Forbes. “I think SBF will make Bernie Madoff look like Jesus Christ.”

Then there’s Orthogonal Credit, a former Alameda Research lender. Thursday, orthogonal tweeted that he severed his relationship with Alameda earlier this year.

“During our Alameda due diligence earlier this year, the team identified a number of key weaknesses: a) declining asset quality; b) unclear capital policy; (c) weak operational and business practices; and d) an increasingly byzantine corporate structure,” the tweet read. “We have considered these key weaknesses and have made the business decision to terminate our institutional lending relationship.”

Yet the power of wanting to believe proved strong. Bankman-Fried was the prodigy who, along with colleagues like the CEO of Alameda Caroline Ellisonworked day and night to conquer a market that never sleeps.

The SBF myth, cultivated by SBF, was that he was not there for his own enrichment. He was a mercenary, and crypto was how he would amass a fortune he wanted to give away for the good of the world. Now, there may not be much to give.

The epitaph of a crypto king could be a Slack message Bankman-Fried reportedly sent to employees this week.

“For next week, we will be doing an increase,” the message read. “The objective of this increase will first be to benefit the customers; second by current and potential new investors; third of you guys. And in, and only in, a hypothetical world where everything is going amazing and everyone is doing well, maybe myself as an investor.


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Juneau County Passes 2023 Budget Including $3.7 Million Debt Tue, 08 Nov 2022 21:45:00 +0000

Juneau County Council passed the 2023 budget at its Tuesday meeting, despite some dissent from supervisors and residents.

The total budget, including all expenses, is set at $47,140,888, down more than $1.1 million from 2022. This amount supports the county’s operating budget as well as a host of projects , purchases and improvements. It includes in particular a 3% salary increase for all county employees, excluding elected officials.

The budget also comes with a heavy debt – $3.74 million.

The funds will be borrowed in December and will become immediately available to the county. Board members on the finance committee pointed out that the amount will be repaid using part of the debt levy by March 1, 2023.

“It’s short-term debt, like what we did last year,” county chief financial officer Lori Chipman said. “The $2.5 million we borrowed in December was repaid in March.”

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At the council’s public hearing, residents questioned the need for the debt. Some demanded the county spend within its means, while others pointed to rising property assessments, asking how many homeowners would be able to afford both their homes and future tax increases.

“Yes, we need a police force. Yes, we need the streets plowed in the winter and repaired in the summer,” said Mauston resident William Riley. “But you can’t keep borrowing money forever.”

“My property has been reassessed by an additional $123,700,” said William Baker, a retired resident. “I can see the writing on the wall. The county is borrowing money now but will be looking to raise my taxes soon.

As property assessments go up, the mill rate, or the tax rate for property owners based on every $1,000 of value, goes down. Budget 2023 projects a mill rate of $3.9455, a decrease of $0.6427 from 2022.

The $3.74 million in borrowed funds will go towards capital improvement projects, which are major purchases that go beyond the one-year budget period.

“An operating expense is payroll, office supplies, fuel…everything consumable. A building is a long-term asset, a patrol car or equipment for road projects. These all have lives that extend into the future,” Chipman explained.

Fixed assets for 2023 include six squad cars for the Juneau County Sheriff’s Office, four snow plow trucks, a trash compactor and carpeting for the jail. The bulk of the spending will be for the reconstruction of County Roads I and HH.

Council members asked if the road works could be postponed to decrease the amount to be borrowed, which Dis. 15 Supervisor Roy Granger, who sits on both the finance and roads and public works committees, was quickly shot.

“We’ve delayed them long enough,” Granger said. “We will lose billions of dollars if we don’t do (these projects). We pushed back two or three this year that there just wasn’t the money to fund.

The resolution authorizing the $3.74 million debt was passed 16 to 4 with 1 absent. Jack Jasinski, Dis. 11, Aimee R. Stieve, Dis. 21, Ray Zipperer, Dis. 13, and newly appointed supervisor Thomas Winters, Dis. 10, all voted against the measure.

The budget is passed in the same way, 17 against 3 with 1 absent. Stieve, Zipperer and Winters remained opposed.

“I think we all have to trust communities that are actively addressing issues,” said Kim Strompolis, Dis. 3, concluded. “If this is the amount that Finance has proposed and said is needed, I think we have to trust them that this is the end result.”

Sunak pledges to protect mortgage holders but says he can’t ‘do it all’ | Rishi Sunak Sat, 05 Nov 2022 10:45:00 +0000

Rishi Sunak pledged to limit the impact of rising inflation on people with mortgages, while promising to restore trust in government.

The prime minister said inflation was ‘enemy number one’ and he was doing everything he could to ‘grasp’ the problem.

Sunak told The Times he understands the worries of families facing crippling increases in their monthly mortgage bills, after the Bank of England raised base interest rates by 0.75 percentage points to 3% – their highest level in 15 years.

“I fully recognize the anxiety people have about mortgages. It’s one of the biggest bills people have,” he said. “So what I want to say to people is that I’m going to do absolutely everything I can to tackle this problem, to limit the rise in these mortgage rates.

“I think inflation is enemy number one, as Margaret Thatcher rightly said. Inflation has the greatest impact on those with the lowest incomes. I want to control inflation.

The Bank of England was forced to raise interest rates to rein in rising prices and warned on Thursday that the country faces its longest recession in a century.

With an estimated £50billion black hole in public finances, Sunak said it was important the government was honest with voters about the ‘trade-offs’ the country faced in the upcoming autumn statement from the Chancellor Jeremy Hunt.

“Everyone understands that the government cannot do everything. How does the government do everything? It does this simply by borrowing money, which ultimately leads, as we have seen, to high inflation, loss of credibility and soaring interest rates,” he said. .

Among the measures Sunak and Hunt are considering to close the gap are a further two-year freeze on the Lifetime Retirement Allowance and the imposition of VAT on electric vehicles for the first time, the Daily Telegraph reported.

Sunak acknowledged that after Liz Truss’ calamitous tenure at No. 10, conservatives urgently needed to rebuild public trust.

He pointed to his own record as Chancellor – when he introduced the Covid furlough scheme – to explain why people should trust him when it comes to managing the economy.

“I fully recognize that confidence has been shaken over the past few weeks and months. I realize that trust is not given, trust is earned. My job is to win back people’s trust,” he said.

“The one thing people will take away from the summer – hopefully from my record as chancellor – I’m someone they can trust understands the economy. I’m someone they can trust. confidence, which will guide us through what will be tough economic times. I have a track record in that area.”

Apart from the fall statement, Sunak said the main issue that had been on his mind for the previous 48 hours had been the Channel immigration crisis.

He defended Home Secretary Suella Braverman’s controversial claim that the south coast was facing an ‘invasion’ of migrants – although he did not use the word himself.

“What Suella was doing was giving an idea of ​​the scale of the challenge we face, which is serious and unprecedented. There is no easy overnight solution to this challenge. But people should know that I am very determined to fix it,” he said.

He also revealed he was at a TGI Friday’s in Teesside when he heard Truss was quitting.

He said: “In a way, I had moved on, I was thinking about what was to come next. I was stuck in there. But he said he felt he had a “responsibility and a duty” to stand up, after discussing it with his wife, Akshata Murty.

He also said he told Boris Johnson he would not stand on a joint ticket with him, saying: ‘I was very clear with him that I had strong support from my colleagues in parliament and I thought I was the best person to do the job.”

How to Calculate EMI Loan – Forbes Advisor INDIA Tue, 01 Nov 2022 22:05:43 +0000

When taking out a loan, it is essential to understand how much you will have to pay each month. This can help you better compare lenders and decide whether an interest-only or amortized loan is the best choice. Although it is possible to calculate loan repayments yourself, many loan repayment calculators are available for many of the most common types of loans.

Here’s what you need to know about calculating loan repayments and where to find the best loan repayment calculators.

How Loan Payments Work

Most loans require monthly installments over a fixed period, the term of the loan. These payments are used for loan principal (the amount you originally borrowed) and interest (the cost of borrowing the money). The amount of your monthly payment depends on the terms of your loan, including the interest rate, repayment term and amortization schedule.

The main factors that affect loan repayments are:

  • Director. The principal of the loan is the total amount you have borrowed.
  • Interest rate. Interest is what lenders charge consumers to borrow money. Annual Percentage Rates (APR) include annualized interest plus any additional borrowing fees or costs, such as origination fees. Interest rates are more competitive for borrowers with excellent credit because they pose less risk to lenders.
  • Costs. Depending on the lender, additional fees may include origination fees, late fees, insufficient funds fees and prepayment penalties.
  • Reimbursement deadline. A shorter loan term means higher monthly payments, but interest has less time to accrue. A longer loan term comes with lower monthly payments, but higher interest overall.

in addition Payments

Making extra payments on top of what you owe can help you pay off your loan faster and save money in the long run. If you apply these additional funds to the principal balance of the loan, you will reduce the interest you owe over time.

If you want to make additional payments on your loan, check with your lender first. It may be necessary to request that additional payments be applied to the principal. Some lenders also charge prepayment penalties that will increase the overall cost of your loan if you pay it off early, while others may limit the number of extra payments you can make each year.

Loan repayment formula

Borrowers can use the loan payment formula to calculate the monthly payment for a loan. You will need to know the interest rate, the loan amount and the term of the loan. Keep in mind that this can be used for any type of loan, including personal loans, auto loans, student loans, and mortgages.

Once you have all the necessary information, you can incorporate it into the formula and calculate your monthly payment.

Interest only loans

An interest-only loan is a type of loan where you only pay interest for a certain period of time. The amount you owe in principal doesn’t change during this time, so your monthly payments are lower than they would be with a traditional amortized loan.

To calculate interest payments on a loan, multiply the loan balance by the annual interest rate and divide by the number of payments in a year. For example, the interest only payments on a loan of INR 50,000,000 with an interest rate of 8% and a repayment term of 10 years would be INR 33,333.33.

Interest-only loans can be useful if you need to keep your payments low in the short term. However, they also carry some risks. Since you are not paying off the principal balance of your loan, you will pay more interest overall. Also, if the value of your collateral goes down, you could end up owing more than it’s worth.

Amortizing loans

An amortizing loan is a type of loan where monthly payments are applied to both the principal balance and the interest. This means that each payment reduces the amount you owe in both areas.

Calculating payments based on an amortization schedule is more complex than interest-only loans. Repayments for fully amortized fixed rate loans are set using amortization schedules and provided by the lender at the start of a loan. If you want to know what your expected payment will be, use one of the calculators provided below.

Consider the same INR 50,00,000 loan above. In this case, the monthly payment is INR 60,663 for the entire repayment period, which is about three times the interest only payment. Here is the amortization table for the first year of this loan:

Calculate loan repayments using calculators

The easiest way to calculate loan repayments is to use an online loan calculator. These tools allow potential borrowers to enter the information needed to obtain an estimated monthly payment.

personal loan calculator

Personal loan calculators are a way to estimate the monthly payment for a personal loan. Not only does this help you calculate what you can afford to borrow, but it also makes it easier to compare lenders to find the lowest monthly payment.

To use the Forbes Advisor personal loan calculator, enter the loan amount, annual interest rate, and repayment term in months or years. After entering this information, the calculator will estimate your monthly payment, the amount of interest you will pay, and the total amount paid over the term of the loan. Remember that this is only an estimate, so your actual payment may differ.

student loan calculator

For many, student loans are the only way to pay for their education, but they can have a huge impact on your finances for many years to come. The Forbes Advisor Student Loan Calculator can help you understand the implications of borrowing and show you the impact of extra payments on your budget and payment horizon.

Enter your loan amount, interest rate, loan term, and additional monthly payment amount into the calculator. Based on this information, you will see your estimated monthly payment and the estimated payment month. You will also see the total interest paid during the repayment and the total amount paid.

mortgage calculator

Using our mortgage calculator can solve some of the mystery of financing a home, especially for first-time home buyers. To use it, enter the price of the house, the down payment (in dollars or as a percentage), the interest rate and the term of the loan in years.

A mortgage calculator can help you figure out how much you can afford to spend on a home. It also makes it easier to see how different down payment amounts affect monthly payments. The best mortgage calculators also create a full amortization schedule so you can see your possible loan repayments over time.

HELOC calculator

Our home equity line of credit (HELOC) calculator lets you see how much you’re likely to qualify with a HELOC. Calculations are based on your credit score, current home value and outstanding mortgage balance.

Once you have entered the information, the calculator will tell you how much you can borrow and your current loan-to-value (LTV) ratio. Lenders typically allow a maximum LTV ratio of over 80%, so HELOC calculators can help you better understand your chances of approval.

Home Equity Loan Calculator

Home equity loan calculators can help you gauge your chances of approval and show you how much you can borrow. To use Forbes Advisor’s home loan calculator, enter your current home value, mortgage balance, and credit score.

As with the HELOC calculator, you will be able to see your current LTV ratio and the amount you may be able to borrow against your home equity.

car loan calculator

Our auto loan calculator can help you figure out how much you can afford to pay for a vehicle and give you an idea of ​​how much interest you’ll pay over the life of your loan. Enter your credit score, car price, interest rate, and loan term in months or years. If applicable, also enter the trade-in value of your current vehicle or the down payment you plan to make.

The calculator will show you how much interest you will pay each month and the total interest paid over time. You’ll also see the total amount you’ll pay over the life of the loan, including loan principal and interest. Depending on the auto loan calculator you use, it may also generate annual and monthly amortization tables.

If you’re not comfortable using a calculator, talk to your lender. It can estimate your monthly payments based on relevant loan details.

McHenry County Council District 2 Candidates Talk Money, Taxes and Fiscal Responsibility – Shaw Local Sun, 30 Oct 2022 10:00:00 +0000

Candidates for the McHenry County Board of Directors in District 2 said the public wants to talk about money.

Voters, they said, told them of their worries about property taxes, inflation and general uncertainty about the economy.

The county council has its own financial concerns. After years of no levy increases, the county is trying to make up a $2.6 million budget shortfall, including $1.2 million in unfunded state mandates.

Five people are running for the two open seats in District 2: Democrats Gloria Van Hof and incumbent John Collins, Republicans John Reinert and incumbent Jeff Thorsen, and Libertarian Jake Justen. All applicants live in Crystal Lake.

District 2 includes all or parts of Crystal Lake, Lakewood, Lake in the Hills and Algonquin.

“We always get people asking about taxes and always, ‘Why are they so high? What can we do about it?’ Van Hof said of his interactions with voters during the election campaign.

Collins, also a Democratic candidate, said his constituents want to know if he is “using taxpayers’ money in the best and most efficient way possible.”

For Collins, he thinks the board’s financial responsibility should include looking at long-term needs and paying for them through bonds.

“The county is debt-free, and for a lot of people that’s a fantastic thing – a government that’s debt-free. But it comes at a cost,” Collins said.

When bonds are issued for 20 to 30 years to pay for a project such as a bridge, “you’ve opened up that $3 million for more immediate things,” Collins said.

Van Hof said his financial responsibility goes beyond just saving taxpayers’ money “but investing it wisely and being very careful, so when you look at your plan and your goals, what you want to accomplish with these savings.

Thorsen, the incumbent Republican, said he did not support an increase in the tax levy.

State law allows county councils to increase their levies to capture new construction growth plus 5% or the rate of inflation, whichever is lower.

Lawmakers are being told they must levy to capture new construction “or lose it forever,” Thorsen said. “It’s a motivation that’s artificially motivated… that even if you don’t need the money, you’re going to take it,” he said.

Any cuts to the budget or the tax must be sustainable, Thorsen said, so the board doesn’t have to increase it in the next budget cycle.

Reinert, a former board member who was not elected in 2020, said McHenry County’s AAA bond rating is attributable to its history of fiscal responsibility.

“Fiscal responsibility will be key to ensuring McHenry County remains a great place to live. High taxes … don’t help us foster growth,” he said.

It is this same bond rating, according to Collins, that the county should benefit from.

While rising interest rates are a concern, “with the financial shape of the county, we can borrow money very, very cheaply,” Collins said. “…We could borrow between 4% and 5%.”

Justen, the Libertarian, opposed the use of bonds to fund county needs.

Borrowing money…it will only push [costs] in the future and on business owners and families looking for a place to live. Fiscal responsibility is about spending money within your means,” Justen said.

Higher taxes, if approved by the county council, will place an additional burden on people “suffering the adverse effects of inflation on the costs of food, gas, heating and energy”, a said Justin.

Virgo horoscope for today October 25, 2022: Try to avoid lending or borrowing money | Astrology Mon, 24 Oct 2022 18:35:09 +0000

VIRGO (August 24-September 23)

Dear Virgo, it’s a good day, so make the most of it. A trip with a loved one can be refreshing. According to the daily astrological prediction, you can enjoy the change of scenery and the natural beauty. Healthwise, it’s a moderate day. Bad weather or seasonal illnesses can catch you, so be careful and maintain good hygiene. Some may have to spend extra hours in the office to complete all the pending tasks. Businessmen have to travel out of town for client meetings. Some may find good real estate deals.

Relatives or friends can drop by and keep you busy all day. Housewives can be busy organizing the house. Married couples can do something special to add spark to their lives. Everything seems fine, but some financial problems are reported. You should try to avoid lending or borrowing money today.

What else is there to reveal about the day?

Virgo Finance today:

The day is not financially favorable. Unforeseen expenses are expected. You may need to borrow some money from a loved one today. If you are planning large investments today, you are advised to postpone your plans. Avoid taking loans from anyone.

The Virgin family today:

Family members can plan to go out and enjoy recreational activities. Some may attend social events. A family reunion is planned for some.

The career of the Virgin today:

A heavy workload can keep you busy all day and it will be a tiring and hectic day. Teamwork and good coordination on the part of older people may be needed to get the job done on time.

Virgo health today:

Health seems moderate. You may face aches or pains and it may make you tired. You should start doing light exercises to manage it. Try to stay active.

The love life of Virgo today:

A romantic trip with your love partner can refresh you. Married couples can plan to do interesting things to add excitement to their lives. Singles can explore dating sites to find someone to start a relationship with.

Lucky number: 9

Lucky color: Saffron

By: Manisha Koushik, Dr. Prem Kumar Sharma

(Astrologist, Palmist, Numerologist & Vastu Consultant)



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