Archive for October 14th, 2007
Open Question: Got a few advice?
Sunday, October 14th, 2007A friend of mine and I have been talking about starting a business. We're going to look for a few commercial property, but with the high cost of real estate, I was wondering if it would be wiser to rent rather than purchase. But at the same time, in case this business venture doesn't pan out, at least we'll have the property to sell if we decide to purchase the property. What do you think?
Thanks!
Open Question: I earn less than I spend?
Sunday, October 14th, 2007My monthly income used to be around RM 8,000-00 to RM 10,000-00.
Monthly, I have to pay :-
2 houses - RM 3,000-00
1 car - RM 1,000-00
personal loan - RM 1,000-00
Now, due to business slow down, starting from this month and next 3 month to come I am going to earn RM 2,000-00 to RM 3,000-00.
I rented my first house for RM 400-00 per month. That is the highest rate in the area.
I stayed in the second house. I have tried very hard to sell the second house but to no avail.
I am trying to sell my car as well, but the car loan is more than the market value.
What should I do.
Open Question: What do I need to make a deposit at Chase?
Sunday, October 14th, 2007Open Question: I'm having problems with CARFINCO and auto loan company regarding what I owe. Anyone have problems with them
Sunday, October 14th, 2007Open Question: Is simple discount a reversal of simple interest?
Sunday, October 14th, 2007Hi all,
My problem’s commercial discount…so here’s an example:
An 8-month loan, repayable by a singe repayment, is issued at a rate of 15% per annum simple interest. If the amount of the repayment is $100,000, how much was initially lent to the borrower?
Now here’s where it gets sticky.
If you work backwards using the simple interest formulae using X as the amount initially lent then we get the formulae:
X+X(8/12)(0.15)=100,000
Here X=90,909
But the formulae suggested by textbooks for simple discounting says that the amount to be invested now is expressed using the formulae:
X=100,000[1- (8/12)(0.15)]
Here X=90,000
The formulae suggested in textbooks is confusing since if the investor invests 90,000 at simple interest they end up with 99,000 not 100,000
However if the investor invests the amount calculated by manipulating the interest formulae ie 90,909 then they end up with 100,000
I’m not one to learn off formulas, they have to make sense to me. Can anyone help?
Open Question: Why my insurance agent prefer “Nationwide” insurance?
Sunday, October 14th, 2007 2 years ago and now, I asked him for a quote on health insurance he insist on Nationwide as the best coverage. Now, I asked for a whole life no cash constructup, he mention Nationwide. Are they the best company for life insurance? My mom has Metlife so I'm looking into that company as well as Nationwide. I saw commercial on TV for Prudential. Anyone know the most popular and best company to go to for life insurance?
Regarding health insurance, 2 yrs ago I went with Nationwide and now, I told my agent I want Bluecross. He has access to other company but it's just weird that he pushing for Nationwide.
Resolved Question: Why my insurance agent prefer “Nationwide” insurance?
Sunday, October 14th, 2007 2 years ago and now, I asked him for a quote on health insurance he insist on Nationwide as the best coverage. Now, I asked for a whole life no cash constructup, he mention Nationwide. Are they the best company for life insurance? My mom has Metlife so I'm looking into that company as well as Nationwide. I saw commercial on TV for Prudential. Anyone know the most popular and best company to go to for life insurance?
Regarding health insurance, 2 yrs ago I went with Nationwide and now, I told my agent I want Bluecross. He has access to other company but it's just weird that he pushing for Nationwide.