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07-24-2020, 10:08 AM #1
- Join Date
- Aug 2016
- Posts
- 486
Would you all mind showing me a working example of how to calculate what they are asking for?
On deals I am presented with this is how I currently analyze the numbers to be able to compare various deals fairly.
Example on an 83 weekly deal..
$105,566.73 total payback / $99,523.33 deposit = 1.060 Effective Rate.
83 Week Interest rate = 6.0%
52 weeks / 83 weeks = 0.6265
0.6265 x 6% = 0.03759 = 3.759% Annualized Factor Rate
Are any of those number that I have converted for, what NY is asking to be provided upfront? If so which one? Or are there additional calculations that need to be done? If so, could you show & explain how I would figure out the APR ?
Thanks.
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08-10-2020, 01:50 PM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,952
What is the Daily ACH Deducted from merchant's bank account?
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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08-10-2020, 04:12 PM #3
- Join Date
- Mar 2017
- Location
- Nunya
- Posts
- 830
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