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How much will you pay in interest if you take out a simple interest loan with a principal of 3900 at 7.2 percent for three years?
Wiki User
∙ 12y ago
3900*.072*3=842.40
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∙ 12y ago
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If the interest is 10 per annum for 3 three years how do you do the math for the total?
Assuming simple interest, the formula is Interest = Principal x Time x Rate/100, in this case the interest would be 30% of the original investment. If the interest is compounded yearly the the formula is Principal x (1 + Rate/100)^Time so that the new total would be (1 + 0.1)^3 ie 1.331 times the original investment, a total of 33.1% interest.
What is the interest on 250.00 at 4 percent for three years?
U get a amount of 30.
150 if invested for three years at a 9 percent interest rate?
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
How much interest is earned by investing 2100 for three years at 4.5 percent compounded monthly?
The formula to calculate the present amount including compound interest is A = P(1 + r/n)nt , where P is the principal amount, r is the annual rate expressed as a decimal , t is the number of years, and n is number of times per year that interest is compounded. Then A = 2100(1 + 0.045/12)(12 x 3) = 2100 x 1.0037536 = 2402.92 The amount of interest earned = 2402.92 - 2100 = 302.92
How much would Kendra have in her account after three years if she started with 500 and earned 2 percent interest compounding annually?
$530.60
How much will Pauline pay in interest if she takes out a simple interest loan with a principal of 3900 at 72 percent for three years?
842.40
Pseudocode and flowchart for simple interest calculation?
begin enter Principal amount(Input) enter interest rate(Input) calculate simple interest(Computation/Processing) Display/Show/Print Give sound Simple Interest(output) end By Tomas Naxweka(Namibia)
If the interest is 10 per annum for 3 three years how do you do the math for the total?
Assuming simple interest, the formula is Interest = Principal x Time x Rate/100, in this case the interest would be 30% of the original investment. If the interest is compounded yearly the the formula is Principal x (1 + Rate/100)^Time so that the new total would be (1 + 0.1)^3 ie 1.331 times the original investment, a total of 33.1% interest.
Interest Calculator: Understanding How Interest Works?
At some point in time, you will have to deal with interest. If you have a savings account or a certificate of deposit account, you will be gaining interest. If you have a loan or credit card, you will be paying it. Either way, it is important to understand how interest is figured out. There are two types of interest you should understand. Below is a guide to figuring out simple interest and compound interest. Simple Interest Simple interest is the amount of interest you gain or pay based on a principal balance. The simple interest rate you are given is based on a principal balance. To figure out simple interest, you multiply the principal balance by the interest rate. You then multiply that by the duration. If you want to figure out how much interest you gain after one year, you would use one for the duration. If you want to figure out how much interest you would get after three months, you would use one quarter for the duration. For example, if you have $100 deposited in to a savings account with a 2% interest rate and want to know how much interest you will gain after 6 months, you would set multiply 100 by .02 by .5. That will tell you that you earned $1 of interest after 6 months. Compound Interest Compound interest is similar to simple interest. The difference is that interest is eventually added to the principal. This changes the principal balance after a certain amount of time. The time can vary, but it usually compounds annually. The equation works similarly, except your principal will change. Using the same example above, let's say you want to figure out how much the interest will be after two years. For the first year, your principal would be $100. You would then multiply that by 2%. This means you gain $2 of interest after one year. This then becomes part of the principal. For the second year, you are multiplying $102 by 2%. This means over the course of two years, this means your total interest is $4.04. When calculating interest for credit cards, most companies usually use your average daily balance. Essentially, you would add up your daily balances over the course of a month and then divide that by the number of days in the month. Then, divide your annual interest rate by 365 to get the daily interest rate. Multiply your average daily balance by the daily interest rate. Then, multiply this number by the number of days in the month. That will tell you how much interest you must pay that month.
What is three percent a year on one hundred and ten thousand?
3% is the same as 0.03 and 0.03*110,000 = 3,300 in one year If it is simple interest, it will be 3300 every year. If it is compound interest, the 2nd years interest will be based on starting amount with first years interest added to it, and so on
What is three percent a year on onehundred and tenthousand?
This would be a gain of 3300 assuming it is savings and 3% is APR. The second year would be higher, assuming compound as opposed to simple interest
What are the three factors that affect the time value calculations?
Principal amount, Assumed interest rate, Period of time.
What is the interest on 250.00 at 4 percent for three years?
U get a amount of 30.
How do you calculate effective interest rate of a simple interest of ten per cent for three years?
2(3)(10)/4 = 15%
150 if invested for three years at a 9 percent interest rate?
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
How much interest is paid to cash advance lenders?
Cash advance lenders charge outrageous interest rates to borrowers, ranging anywhere from thirty percent to three-hundred percent. This is why it is advised never to borrow from a cash advance lender.
Do you get interest paid back from the bank on a car loan that was totaled and paid off early?
No.What happens is that the lender will take your payments and use them to pay off the interest you owe on the loan each month. Any amount left over is used to reduce the principal you owe on the loan.When the loan is paid off in full for whatever reason, the amount that needs to be paid is the principal remaining plus interest for the current month so far.If your car is totaled and paid off three years into the loan, the interest you've already paid was to borrow the money for three years. Since you did borrow the money for those three years, you don't get any of the interest back.
