ChatterBank1 min ago
Interest Rates
6 Answers
Is FED or LIBOR insterest rate is on reducing basis or flat rate?
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No best answer has yet been selected by maher98. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.What I mean that current LIBOR is at 1.92% this week. If someone takes a loan of 100,000 for 1 year, will the interest calculation be as follows:
100,000 * 1.92% = 1,920 which is flat rate OR
100,000 * (1.92% / 1.68) = 1,000 which is reducing rate. The same goes for FED rate.
Hope I've clarifed my question.
100,000 * 1.92% = 1,920 which is flat rate OR
100,000 * (1.92% / 1.68) = 1,000 which is reducing rate. The same goes for FED rate.
Hope I've clarifed my question.
Pls check this site for LIBOR rates
http://www.bankrate.com/rates/interest-rates/l ibor.aspx
Hope you can clarify.
http://www.bankrate.com/rates/interest-rates/l ibor.aspx
Hope you can clarify.