Final Project: The Risk and the trap of Campus Loan" Do you really know the different kind of Loan" that may find here and there in advertisement on the campus wall? Have you ever heard the cases of "Campus Loan"? They claimed that you can easily get loan in low interests but when you really apply it and you find yourself in a trap. How they really charge you the interests? You need to do an intensive survey and write a report. Here give U an advertisement of a campus loan. The information of this loan is "Campus Loan" only 0.99% month rate Loan principle 10,000 20% commission fee refundable if no overdue. 12 month installment, every month payback 932.335 why 0.99% month rate ? following is the bestm) Total interests: 1,1879 7.-93233 12 -10.000 Month interest 98.99 JT - 1187.9/12 Month rate 0.999%%+98.99/10.000 Do you agree with their advertisement? What is the actual interest (Effective Annual rate)? See if you want to buy a new notebook cost 10,000$, instead of apply the above "campus loan", what else loan or payment you can find? Please give at least 2 options. (e.g. Alipay's Ant Loan", Commercial Bank Loan, or pay installment by JD, etc). Collect the related information and compare all these alternatives' effective annual rate. Report's Requirement and Format: 1. Word document with text in 12 font size Times New Roman, 1.5 line space. 2. Provide necessary analysis (e.g. cash flow diagram, month payment and effective annual calculation etc.) 3. Comparison and discussion rate "Campus Loan" only 0.99% month rate Loan principle 10,000$, 20% commission fee refundable if no overdue. 12 month installment, every month payback 932.33$ why 0.99% month rate ? (following is their calculation) Total interests: 1,187.9 7 = 932.33 x 12 - 10,000 Month interest: 98.99 7 = 1187.9 / 12 Month rate >0.99% 98.99 / 10,000 Final Project: The Risk and the trap of Campus Loan" Do you really know the different kind of Loan" that may find here and there in advertisement on the campus wall? Have you ever heard the cases of "Campus Loan"? They claimed that you can easily get loan in low interests but when you really apply it and you find yourself in a trap. How they really charge you the interests? You need to do an intensive survey and write a report. Here give U an advertisement of a campus loan. The information of this loan is "Campus Loan" only 0.99% month rate Loan principle 10,000 20% commission fee refundable if no overdue. 12 month installment, every month payback 932.335 why 0.99% month rate ? following is the bestm) Total interests: 1,1879 7.-93233 12 -10.000 Month interest 98.99 JT - 1187.9/12 Month rate 0.999%%+98.99/10.000 Do you agree with their advertisement? What is the actual interest (Effective Annual rate)? See if you want to buy a new notebook cost 10,000$, instead of apply the above "campus loan", what else loan or payment you can find? Please give at least 2 options. (e.g. Alipay's Ant Loan", Commercial Bank Loan, or pay installment by JD, etc). Collect the related information and compare all these alternatives' effective annual rate. Report's Requirement and Format: 1. Word document with text in 12 font size Times New Roman, 1.5 line space. 2. Provide necessary analysis (e.g. cash flow diagram, month payment and effective annual calculation etc.) 3. Comparison and discussion rate "Campus Loan" only 0.99% month rate Loan principle 10,000$, 20% commission fee refundable if no overdue. 12 month installment, every month payback 932.33$ why 0.99% month rate ? (following is their calculation) Total interests: 1,187.9 7 = 932.33 x 12 - 10,000 Month interest: 98.99 7 = 1187.9 / 12 Month rate >0.99% 98.99 / 10,000
