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Which loan would cost the borrower less money 2000 at 8 for 3 years or 2000 at 9.5 percent for 2 years How much interest would the borrower save by taking the cheaper loan?
Wiki User
∙ 10y ago
8 percent of 2000 is 160 x 3 = 480
9.5 percent of 2000 is 190 x 2 = 380
100 hundred dollars cheaper.
Wiki User
∙ 10y ago
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Is 30 percent a lot?
That depends on what you are talking about. 30 percent is less than half of something and would depend on what you are taking 30 percent of to determine if it is a lot or not.
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Which economic system of country give best chances for a success of multinational company?
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If Patty is taking out a simple interest loan to buy her new 10689 car How much would she pay in interest it the rate is 4.5 percent and she pays the loan off in 4 years?
She will pay $1,924.02 in interest.
Why does a bank charge interest on the money it lends?
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Interest earned is computed by taking the principal amount and multiplying it by the rate and time and divided by the time taken. The interest in this case is 30.
If two banks offer risk-free interest rates on both savings and loans but one is 5.5 percent and the other is 6 percent what arbitrage opportunity is available?
Arbitrage OpportunityArbitrage opportunity is any situation in which it is possible to make a profit without taking any risk or making any investment. The arbitrage opportunity that is available is to borrow from the bank with 5.5 percent interest and deposit it in the one with 6 percent interest. And this would happen: While the bank with 5.5 interest would experience a demand for loans, the bank with 6 percent interest would experience a surge in deposits. As a result, the interest rate at the first bank would increase while the interest rate at the second bank would decrease.
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What happens if the loan borrower dies then the guarantor passes away shortly after?
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Two of the many benefits of finding a cheap remortgage are that it is cheaper than using credit cards or taking out personal loans, and that it can allow you to get a better rate of interest.
What benefit does the person taking a loan get from taking the loan?
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