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In Order To Pay Back A Debt How Do You Calculate The Percentage For Repayment Fr

  1. quicksand profile image79
    quicksandposted 5 years ago

    In Order To Pay Back A Debt How Do You Calculate The Percentage For Repayment From Funds Available?

    A sum of money is owed to several people. The amounts owed differ from individual to individual. The total sum owed exceeds the funds available for repayment. A structured method of payment is the solution.  Every settlement has to be designed to pay back each individual from the available funds such that each creditor gets paid in terms of percentage of what is owed, the identical figure. Would you know how to calculate this percentage?

  2. kaiyan717 profile image80
    kaiyan717posted 5 years ago

    If I understand you correctly, I would say that you needed to first see what funds are available for repayment and keep that figure in mind.  Then if you are looking for a identical percentage for varying totals, i would try guess/ check method.  Start with 1% across the board and compare to orginal figure.  From there it should be easy to decide an approximate percentage that could be applied uniformly across the debtors.  Then from there, follow the same payment, say 5% for 20 years to repay the full amount to each creditor equally.

    1. quicksand profile image79
      quicksandposted 5 years agoin reply to this

      I mean if Guido gets paid 87% of what is owed to him, Jose, Pierre and all those to whom money is owed also should get exactly 87% of what is owed to him. Is there a mathematical method of arriving at a figure? Thanks for responding. smile

 
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