Steffi
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That means you pay 19% per year in interest on the loan. |
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yumyum
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It means you pay back what you borrow plus 19% of the amount borrowed. And yikes!! |
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nixinvestigations
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An 'interest rate' is the "rental" price of money. When a resource or asset is borrowed, the borrower pays interest to the lender for the use of it. I have listed a site below that may help you understand it better. Hope this helps! |
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thewiseman
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its a bad deal run away don't go there you pay on 1000.00 at 19% APR 190 add on to the bill so now its 1190. you make a payment of 100 on the loan its still 1090 . save money for what you need if you can. |
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tok913
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well one form of an interest rate is the way to measure the amount of money charged to you for borrowing money. If you borrowed $1000 with an interest rate of 19% a year, you would pay $190 to whomever you borrowed the money from, as a fee for the loan. On the other hand, you could be earning interest on money you have invested, which basically puts you on the other end of what I described above. If you are the lender, (or investor), you will earn interest on the money you have lent. So in this case you would be collecting $190 on the $1000 you invested. It's the same thing, just depends on which side of the loan you are on. |
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CrzyCowboy
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About average now a days on most cards, way to high to want ot use or purchase large items or have a balance on such a card. |
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grassi73
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HORRIBLE! |
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theevilfez
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high for some and low for others ..... |
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Crusher
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19% of whatever you spent that month and it keeps adding up every month you don't pay off the balance. If you don't know what interest rates are then you shouldn't have a credit card because you will find yourself in debt very fast. |
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brianangelo_gonzales
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it mean you need to pay 19% interest rate from the expensive things that you buy
to figure it out :
price of your house and divide by the percentage of the interest rate |
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snvffy
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Very close to "YOU'LL NEVER PAY IT OFF" if you choose to buy something at that rate. |
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Tara
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highway robbery |
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Hoa N
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all answer above is good, I add some more advices
if you owed 10000.00, with that kind of interested, it will become 20000.00 in 3 years and 8 month if you let the debt alonewithout paying off |
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jojeevs
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If you are takin the loan, tht's beggin for torture... if you are givin the loan, you should be knowing what it means.... U're gonna be a millionaire.... |
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C O
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It depends if it's a APR and what formula is being used to calculate. 19% APR charged as an interest rate on a credit card is 19/12 x average daily balance. On a simple fee interest loan it's balance x .19+principal |
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