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If you borrow $200 at 6% simple interest and keep it for two years, how much will you have to pay back?
it should be around $224
What else can I help you with?
You borrow 2000 from a friend and promise to pay back 3000 in two years. What simple interest rate will you pay?
8
Marcy is planning to borrow 12500 with a simple interest rate of 5.2 percent for 4 years How much will she pay back to the bank?
15100
Latoria is planning to borrow 12500.00 with a simple interest rate of 5.2 percent for 4 years How much will she pay back to the bank?
125 x 5.2 x 4 = 2600 + 12500 ie 15100 in total
What does 2 point 9 purchase financing mean?
2.9% on every dollar borrow. To make it simple say you want to borrow 1 dollar I tell you ok but have to pay me back that dollar + 2.9% interest which means you me 1.03$
How do you calculate zero interest loan?
There is no calculation involved. You pay back the amount you borrow.
What is in principle loan?
You borrow money and must pay back in full plus interest.
how much can you borrow, how much interest if borrowed?
how much is the grant worth, does it have to paid back,
What are the advantages of a lower interest rate?
When you borrow money - either loan, overdraft, credit card etc..... - you will not be paying back as much interest. However, there is always a down side. You will not be getting as much interest on your savings. I say borrow a million, and blow the lot!!!!!
What is Interest is?
Interest means that you borrow money, and you owe it back with a little bit extra. e.g. you owe someone £10. After a month you give that money back. But for having let you borrow it, you might now owe £10 with 2 pounds (interest) added.
What are the Advantages and disadvantages of a bank loan?
Advanatages: You can borrow large amounts. Disadvantage: You have to pay back with interest.
What is the total amount you would pay back on a simple interest loan with a principal of 10500 at 6.3 percent for five years?
13,807.50
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.
