The number of years does not matter in this question. At exactly $5700 at 5.3% interest, you would pay $302.10 for the month.
72
Simple interest: 144Compound interest: 152.64
$48
$494.34 Interest= principal amount * time* simple interest %
Simple interest = 1000 * 5/100 * 3 = 150
9999.00
72
If the 3.5 percent is per year, with simple interest you have the equation: 2142 = 15300*0.035*t ; then solve for t = 4, so 4 years.
Simple interest compounded annually and reinvested will yield 619173.64 before taxes.
Simple interest: 144Compound interest: 152.64
$48
19035 by simple interest
$494.34 Interest= principal amount * time* simple interest %
Simple interest = 1000 * 5/100 * 3 = 150
200000000 dollars
7% simple annual interest over 2 years = 14% total interest.14% of R528 = R73.92 .
Future value = 8400*(1 + 0.05*6) = 8400*(1.3) = 10,920 dollars.