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What is the total amount that Matthew's bank will receive after lending him 8000 for four years at an interest rate of 6 percent compounded annually?
Wiki User
∙ 7y ago
He will get 10,099.82 back after 4 years if none of the payments are made during that time. You will need to add the interest on to the principal each year.
Wiki User
∙ 9y ago
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What is the interest on 300000 savings?
The answer depends on the interest rates on offer and these will vary between lending establishments and between countries.
What is the definition of interest in math terms?
The charge for borrowing something (money) or the return for lending it
Is 10 percent per month interest in lending in the Philippines legal?
10 percent interest per month any bank name
What is the interest on 10.000.000?
The answer depends on the interest rate! This will depend on a number of factors:whether you are borrowing or lending that money,for how long,in which country,the risk of default on the loan.
What is the purpose of interest?
a group similar interests and different oppinion. expanding similar thoughts and also a community
What is time valu of money?
The time value of money, in a nutshell, is how much money would be worth in the future if you invested it at a certain rate. If you have $1 now and can invest for 5% (compounded annually), you would have $1.05 at the end of the year (Future Value) Can also be how much you need now to reach a certain amount in the future. If you need $1 in a year and can invest for 5% (compounded annually), you would need about 95 cents now (Present Value)
What is the practice of lending money for interest?
the practice of lending money is the practice of your moms vagina
What has the author Joseph Bridges Matthews written?
Joseph Bridges Matthews has written: 'The law of money-lending, past and present' -- subject(s): Usury, Usury laws
What is the fee for lending money called?
The fee for lending money can refer to each of these: 1. Points. This is a term often used in mortgage lending. 2. Interest. This is most used for the cost of an unpaid loan.
What is the practice of lending money for interest known as?
usury
When did the christians start lending money with interest?
NEVER
Is the interest on payday lending too high?
Payday lending is expensive and the interest adds up daily and their can be hidden fees.Research the companies out there to find the best fit for you and your situation.
How much do I have to pay back in interest if I take a loan out on my 401K?
The interest rate really depends on what the prime lending rate is. As the interest rate is the prime lending rate plus an additional percentage point or two.
What is a lending investor?
A Lending Investor is a person who make a practice of lending money for themselves or others at interest and who are not organized under any specialized chartered law.
What are some examples of well-known lending interest rates?
Well-known lending interest rates include the prime rate, the discount rate, and consumer rates for automobiles or mortgages.
Is high interest rate good or bad?
That depends on whether or not you're lending or borrowing. Lending = good Borrowing = bad
What is the practice of lending money with iniquitous rates?
The practice of lending money, with interest rates "above the lawful rate", is called usury.
