441
6 years
That would depend on the original principal (the amount you borrowed) and how they compute interest.
Not usually. A "4 percent increase in the interest rate" usually means that there is some reference interest rate of x percent that is increased to 4 + x percent. This means that the interest paid increases from x percent of the principal to 4 + x percent of the principal. Therefore, the interest paid increases by 100 (4/x) %. For example, if a recent Federal funds rate of 1 % in the United States were to be increased by 4 %, the interest paid on any given amount of principal would increase by 400 %!
false
835.00, 860.05, 885.10, 910.15, 935.20,
The effect of compound interest is that interest is earned on the accrued interest, as well as the principal amount.
$494.34 Interest= principal amount * time* simple interest %
1282.5
$44,440.71
Rs 80.
6 years
amount
That would depend on the original principal (the amount you borrowed) and how they compute interest.
13,807.50
Not usually. A "4 percent increase in the interest rate" usually means that there is some reference interest rate of x percent that is increased to 4 + x percent. This means that the interest paid increases from x percent of the principal to 4 + x percent of the principal. Therefore, the interest paid increases by 100 (4/x) %. For example, if a recent Federal funds rate of 1 % in the United States were to be increased by 4 %, the interest paid on any given amount of principal would increase by 400 %!
The correct spelling is principal and interest. The principal is normally the amount borrowed, which is reduced by paying any amount exceeding the interest.
Simple interest is determined by multiplying the interest rate by the principal of the number of periods. Where, P is the loan and the amount is usually expressed as an annualized percentage.