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It's 11/12 percent of whatever principle you still owe.
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∙ 13y ago
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What is 2 percent per annum?
The same as 2% per year. Per annum means per year.
A sum invested at 5 percent simple interest per annum in 2.5 years will grow to?
It will grow to nine eighths of the original sum.
What grows by 2 percent per annum?
Your capital in a poor savings account.
How much would 120 invested at 6 percent interest compounded monthly be worth after 21 years Round your answer to the nearest cent?
120 x (1.0621). You need a calculator with logarithms to solve this quickly. Take the log of 1.06, multiply that by 21 then take the antilog. The answer should be close to 3.4 I have 3.995636 which would give 407.95 to the nearest cent. Later: Sorry, this is based on annual compounding. For monthly the equation is 120 x (1.005252). You're on your own, I'm afraid! * * * * * The second part of the above answer is correct if this is purely a mathematical exercise. However, 6% compounded monthly is an annual interest rate of approx 101.2%. If you know anyone who gives even a tenth of that rate I would be interested to know! What happens, in real life, is that the financial company advertises the annual equivalent rate of their monthly rate. So, a 6% rate, compounded monthly, is really 0.487% monthly. This is because 0.487% compounded 12 times is 1.0048712 = 1.06, or 6% per annum. Then the real life problem reduces to 6% per annum for 21 years, which is 120*(1.06)21 = 407.95 - as in part 1 of the above answer. * * * * * The last paragraph above is incorrect. As was stated in the first answer, that would be for annual compounding. To calculate 6% per annum (which is what we usually mean by interest rates) compounded monthly, you first convert the interest rate to a monthly rate by dividing by 12, and that of course is half a percent per month, so every month the balance is multiplied by 1.005. So the answer of 120 x (1.005252) given there is correct. On the scientific calculator on my computer, I get $421.72.
What is 20000 in 5 years with 7 percent interest compounded semiannually?
After 5 years, 20000 at 7% per annum compounded semiannually will be 20000*(1 + 0.5*7/100)2*5 = 20000*(1.035)10 = 28211.98
What is the nominal rate of interest per annum compounded monthly equvalent to effective interest rate of 12.60 percent per annum?
0.9938% per month, when compounded is equivalent to 12.6% annually.
What is 9 percent per annum on 30000?
If it is simple interest, then it is 2700. ■
What is pcpa as interest rate?
P.C.P.A. stands for Percent Compounded Per Annum.
What does 4.9 percent p. a. interest mean on a credit card?
It means the percent of interest paid annually (p.a. means per annum).
What is the simple interest on 642 for 7 years at 11 percent per annum?
$494.34 Interest= principal amount * time* simple interest %
What is 9 percent per annum of 675.00?
60.75 per annum.
What is 7 percent per annum on 164300?
11501 per annum.
What is the principal amount which earns Rs24 as simple interest for 3 years at 10 percent interest per annum?
Rs 80.
What would be the interest on 231700 at 3 percent per annum for 5 years and 7 months?
It is 41575.40
How much per annum is 18 percent per month?
216% per annum
140000.00 note with 8 percent per annum with monthly payments of 1200.00?
Interest 1152,00 annual. Surely you can do better than 8%-look into a refi once you have been in a while & congrats on your new home.
What is meant by p.c.p.a. as interest?
P.C.P.A. is the "Percent Compounded Per Annum." This measurement is used when trying to determine the compound interest for previous years.
