Q: 5000 loan at 4 percent annually for six years?

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The interest paid annually is 700*5/100 = 35

Simple interest I=Prt = (5000)(0.07)(2) = $700.Compound interest: A=P(1+r)t = 5000(1.07)2 = 5000(1.1449) = $5,724.50;I=A-P = 5,724.50 - 5000 = $724.50

It is 5000*[(1+8/100)2 - 1] = 5000*[1.1664 - 1] = 5000*0.1664 = 832

5000 x 6/100 x 83/365 = (300 x 83)/365 = 68.22

50 x 7 x 2 ie 700 Simple Interest; 5000 x (1.07)2 - 5000 ie 724.50 Compound Interest

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The interest paid annually is 700*5/100 = 35

6 yrs @ 10% = 60% = 3000

390.45

A fixed percent of the principal of a loan or investment is called a fixed interest. It is paid monthly or annually or whatever based on the agreement made.

$465.97

most of these scams are 84 months (seven years) so about 40,000 bucks, is it worth it? Probably not.

Simple interest I=Prt = (5000)(0.07)(2) = $700.Compound interest: A=P(1+r)t = 5000(1.07)2 = 5000(1.1449) = $5,724.50;I=A-P = 5,724.50 - 5000 = $724.50

It is 5000*[(1+8/100)2 - 1] = 5000*[1.1664 - 1] = 5000*0.1664 = 832

5000 x 6/100 x 83/365 = (300 x 83)/365 = 68.22

$432

$432

50 x 7 x 2 ie 700 Simple Interest; 5000 x (1.07)2 - 5000 ie 724.50 Compound Interest