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Dr . Shrimp Puerto Rico has applied for a loan through a Peer - to - Peer ( P 2 P ) lending platform. Below
Dr Shrimp Puerto Rico has applied for a loan through a PeertoPeer PP lending platform. Below are the details of his loan and the fees associated with it:
Loan Amount: $Loan Term: monthsInterest Rate: per yearOrigination Fee: of the loan amount deducted upfrontService Fee: of each monthly payment deducted from lenders' earningsTransaction Fee: $ for each lender when withdrawing their earnings
John has lenders contributing the following amounts to his loan:
Lender : $Lender : $Lender : $Lender : $
Questions:
How much will Dr Rico receive after deducting the origination fee?How much will Dr Rico pay monthly for his loan?How much will each lender receive per month after the service fee deduction?
Lender : Lender : Lender : Lender :
How much will the platform earn from each lender per month in service fees?
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