So let’s use the credit calculator of one bank from first ten. For this purpose we will fill required fields, having substituted in it corresponding values of parameters. As a result it is received: monthly payment of the borrower constitutes $293,32. Hence, leaves that the capture at bank of the loan at a rate of $9 thousand will manage to the creditor in $293,32х36 = $10 560 (in the absence of advanced repayment).
Let’s repeat computations, having used service already other domestic bank, we take it from second ten rating. We will make necessary substitutions and … the calculator gives out us absolutely other result. In this “opinion”, the size of monthly payment at the set parameters equals $286. From this it follows that the total sum of expenses under the credit maintenance constitutes $10 296 that on $264 it is less, than has been specified above.
Similar results turn out and at use of credit calculators of any third bank. It is not clearly, agree. Here only calculators for some reason give out excellent from each other figures.
What conclusions will be made by the borrower on the basis of such computations? He will choose there where it is more cheaply, as to check up reliability of the produced calculations all the same is problematic. Though and it is possible. For this purpose it is possible to go two ways: or to use the standard formula of determination of the size of monthly payment, or to produce necessary computations on the basis of application of non-bank calculators. We will try and make. Perhaps, it will bring though any clearness.
For independent computations we will substitute the necessary values in the calculation formula of annuity payments. By simple simplifications it is received: monthly payment is equal to $293,32, that is exactly, as at the first bank taken for an example.
Now we will consider the following variant which we name objective (well at least rather). For this purpose we will use, say, the credit calculator from the neighboring country, placed on one of the Internet sites. Results don’t keep itself waiting for long: the monthly repayment sum of the credit on the above described conditions of $286,2, a total sum of payments under the credit for 36 months constitutes $10 303,11, and the interest rate sum constitutes $1303,11. As we see, these figures are very similar to some, specified earlier, but from the point of view of arithmetics all the same they differ.
Thus, leaves, as these computations haven’t allowed answering a main point – what of these calculations are correct? It is only a real rebus. With credit calculators of banks all is more difficult and more interesting. Why? The answer as it seems to me, is obvious – as it is all about money gaining.
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