APPLICATION OF CUSTOMER LAPTOP LOAN INSTALLMENTS BASED ON THE EFFECTIVE AND FIXED INTEREST RATE METHOD
DOI:
https://doi.org/10.53625/jcijurnalcakrawalailmiah.v1i10.3132Keywords:
Interest Rates, Installment, PaymentsAbstract
Financial institutions (finance) are currently growing rapidly by providing various kinds of attractive credit facility promotions to their customers. The public can take advantage of this financing service, if the administrative requirements are complete. Credit promotions are given to customers in the form of a list of installments with varying interest according to the desired amount of credit for each installment period. This study aims to determine the application of mathematical concepts by using the annuity interest rate system and sliding rate as well as flat interest rates. The data analysis model used in this study is an exploratory method and the data collection is secondary data by taking several price list brochures of six ( 6) brands of laptops from various types and three (3) financial institutions (finance). The data obtained are down payment (DP), interest rate (i), insurance costs, administrative costs and credit installment period. After the data is obtained, then the analysis and calculation is carried out with the following steps: (1) Performing the calculation of flat interest, annuity interest and sliding rate interest; (2) Calculation of monthly installments on annuity and sliding rate. Based on the results of data processing , it is found that the greater the loan value, the smaller the interest rate charged to consumers and the longer the payment period, the smaller the interest rate charged to consumers. The results of this study, concluded that The payment system that is more profitable for the finance party is the flat interest rate system, while the system that is best used for the customer is the effective interest rate system, namely the sliding rate system . This system, gives customer interest relief decreased. However, if the customer wants to pay off early, the sliding rate and flat interest rate system is more profitable for the customer. While the annuity interest rate uses declining interest, the amount of interest earned is greater than the sliding rate interest The principal installments are getting bigger and bigger
References
Arifin, S. (2003). Effectiveness of Interest Rate Policy in the Context of Rupiah Stabilization in Crisis Times. Bulletin of Monetary, Economics and Banking , 1 (3), 1-26. https://doi.org/10.21098/bemp.v1i3.174
Bumulo, H. and Mursito, D. 2006. Mathematics for Economics and its Applications 7th edition. Malang : Bayumedia.
Devi. 2000. Overview of Interest Rates and Their Impact on Investment and Financing Decisions. [Online Series].
http://puslit.petra.ac.id/Journals/Accounting . [July 20, 2011]
Dumairy, 2016. Applied Mathematics for Business and Economics, Issue 10 Ed. 2. BPFE, Yogyakarta.
Cashmere. 2012. Banks & Other Financial Institutions . PT Raja Grafindo Persada. Jakarta.
Kotler, P., 2006. Marketing Management, Volume 2 Edition 12. PT Index Gramedia Group : Jakarta.
Kotler, P., & Armstrong, G. 2012. Principles of Marketing (Fourteenth Edition). Boston: Pearson Education Limited
Kotler, P., & Keller, K. 2016. Marketing Management (15th Ed.). London: Pearson Education .
Mulyani Rody Muin , 2020. Analysis of the Decision to Purchase Asus Brand Laptops at the Chip Shop Professional Computer Pekanbaru. Journal of Competitiveness: Vol.6 No.1 . p- ISSN : 2407-800X , e-ISSN: 2541-4356
https://doi.org/10.35446/dayasaing.v6i1.463 https://ejournal.kompetif.com/index.php/dayasaing/article/view/463
Nurhadi N, 2018. Financing and Credit in Financial Institutions , Tabarru' Journal : Islamic Banking and Finance , Vol. 1 No, 2, pp 14-24; 201.
p-ISSN 2621-6833 e-ISSN 2621-7465
https://journal.uir.ac.id/index.php/tabarru/article/view/2804
https://doi.org/10.25299/jtb.2018.vol1(2).2804
Government Regulation (PP) No. 89 of 2014 concerning Loan Interest Rate or Financing Yield and Area Coverage of Microfinance Institutions. https://peraturan.bpk.go.id/Home/Details/5534
https://jdih.kemenkeu.go.id/fullText/2014/89tahun2014pp.Htm
Financial Services Authority Regulation No. /POJK.05/2014 Concerning the Implementation of Microfinance Institutions
https://www.ojk.go.id/Files/201406/
Robi Anggara and Anggalia Wibasuri, 2012. The Effect of Quality and Price on the Decision to Purchase Acer Aspire 4752 Laptops in Sepang Jaya Village, Kedaton District, Bandar Lampung JMK, Vol 10 No. 2, September 2012. https://media.neliti.com/media/publications/218985
Sasmitha, JL, & Harto, B. (2021). Analysis of Daily Loan Interest Rate Calculations on Legal Online Loan Applications Using the Simple Interest Method. ATRABIS: Journal of Business Administration (e-Journal) , 7 (2), 132-139.
https://sinta.kemdikbud.go.id/journals/detail?page=4&id=7371
Zuhri, 2019. Analysis of Credit Interest Rates based on Installment Payments
(Case Study on Adira Finance Multipurpose Loans) . Journal of Management Science, Vol. 7, No. 1, pp. 37-48, March 2019. p-ISSN 2355-1488, e-ISSN 2615-2932