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If it is 10.24% (per month), then the APR is 222%, but if it's 10.24% compounded monthly, then APR is 10.7345%
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∙ 12y ago
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Calculate the amount of interest on 2 000.00 for 4 years compounding daily at 2.25 percent APR From the Monthly Interest Table use 1.094171 in interest for each 1.00 invested?
The question cannot be answered. 1.094171 monthly is not equivalent to 2.25 APR. So the question contains inconsistent information.
What is the formula for finding monthly payment when you know the interest and principle amouint?
total cost= monthly payment [1-(1+APR)to the power of -n/APR
Which yields more 8 percent apr compounded monthly or 8.5 percent compounded semi-annual?
8% compounded monthly is equivalent to an annual rate of approx 152% . 8.5% compounded six monthly is equivalent to "only" 17.72% so the first is clearly larger.
How do you calculate APR in PHP?
<?php $month = 360; //How many month you have for payment $monthlyPayment = 671.96; //Your monthly payment $moneyBorrowed = 99000; //How much you borrowed $totalPaid = $month * $monthlyPayment; //Number of months * Monthly payment $APRequ = $moneyBorrowed / $totalPaid; //Money Borrowed * Total money paid back $APRMonthly = abs($APRequ-1); //Returns the absolute value of the monthly APR $APR = $APRMonthly * 12; // Monthly APR to get Yearly APR echo $APR; ?>
What is the simple interest on 3 500 at 9 ½ percent for 1 ½ years?
You have failed to tell us to what period of time the 9½% interest is applied - is it Yearly, Monthly, Daily (if only - I can but dream). I will guess that it is 9½% APR simple interest. With Simple Interest, the interest is gained only on the capital and not any interest reinvested. → 1 year's interest is 9½% of 3500 = 9.5/100 × 3500 = 332.50 → 1½ years interest = 1½ × 1 year's interest = 1.5 × 332.50 = 498.75
Monthly interest rate is 1.6 percent what is the APR?
19.2
What is the monthly interest payment on 30 thousand dollars borrowed against a credit card with 30.0 percent apr?
$750 / month in interest rates.
Calculate the amount of interest on 2 000.00 for 4 years compounding daily at 2.25 percent APR From the Monthly Interest Table use 1.094171 in interest for each 1.00 invested?
The question cannot be answered. 1.094171 monthly is not equivalent to 2.25 APR. So the question contains inconsistent information.
What is the monthly interest payment on 10 thousand dollars borrowed against a credit card with 19.9 percent APR?
Your monthly payment, assuming you have quoted the interest rate correctly, should be $165.83 if you pay this off in one year (12 monthly payments)
What is the formula for finding monthly payment when you know the interest and principle amouint?
total cost= monthly payment [1-(1+APR)to the power of -n/APR
How do you calcutate an APR?
APR is calculated by multiplying the amount of the loan by the interest rate. Next divide by the length of time of the loan to get the monthly APR amount.Ê
Gretchen just got a new credit card that offers an introductory APR of 4.8 for the first 4 months and a standard APR of 15.6 thereafter. If interest is compounded monthly what is the periodic interest?
The monthly rate is 1.22%, approx.
If you pay the minimum monthly payment will you owe interest?
Yup, you will owe a lot of interest, because a monthly minimum payment just keeps the card current and upto date. Whatever is your APR divide that by 12 is your monthly interest on the balance at that time.
What was the APR if paid 195 interest on a 2000 purchase made 12 equal monthly payments?
17.5
How much interest will you pay on a 4000 pound loan over 48 months apr is 14.9 percent?
1333.67 pounds in interest if you also repay the capital with a constant monthly repayment of 111.12pounds, if you repay only interest you pay 2384 pounds over the 4 years.
When you make monthly payments on your mortgage it have a quoted APR of 5 percent monthly compounding what percentage of the outstanding principal do you pay in interest each month?
The interest you pay will gradually change as you pay down your mortgage. It is called amortization and you can either ask your lender for an amortization table or use the related link to calculate it for yourself.
What is the maximum APR in Iowa?
The maximum APR is 5 percent unless agreed upon in writing. This does not count loans for real property, business, or farming. If a judgment is received, the interest is set at 10 percent.
