 Posted: Tue May 13, 2008 10:03 am Subject: Need Help to Calculate Service Fee Percentage
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Hey all, I have 4 pdl's out there and I live in MD and know the monthly cap is 2.75% and yearly cap of 33%.
But... I don't have the "contracts" that the internet PDL's send you and I wanted to calculate the actual APR/Interest Rate that I paid on each loan I took out.
For example:
I loaned for $600 and the interest equaled $152 for a total of $752 due. What was the interest rate to = $152?
Was that clear?  I know my brain is a little fuddled right now with calling the AG and typing to BBB and FTC.
The loans are:
CTC: $600 interest $152 - Interest % equals?
Epayday: $400 interest $120 - Interest % equals?
VC Funding: $300 interest $90 - Interest % equals?
VIP Cash: $250 interest $315 (paid $130) - Interest % equals?
THESE TWO APPEARED AFTER SEVERAL YEARS OF NOT HEARING FROM THEM OR DEALING WITH THEM
Ameriloan: Alleged owed amount $410 (possibly $300 with $110 interest - Interest % equals?)
United Cash Loans: Alleged owed amount $505 (possibly $400 loan with $105 interest - Interest % equals?)
I see how to do it by knowing the percentage, but I don't get how to do it by knowing the service fee and how to get the percentage rate? 
My brain is mush.
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eulogyforinnocence
Joined: 08 Apr 2008
Posts: 42
Debtcc Points: 735
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