First find out what the interest rate is from the money lender or deposit taker.
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Please clarify. A 4.2 percent mortgage interest rate? A 4.2 percent credit card rate?
To calculate 3% interest on $150,000, you first convert the percentage to a decimal by dividing by 100, which gives you 0.03. Then, you multiply the decimal interest rate by the principal amount ($150,000) to find the interest. Therefore, 3% interest on $150,000 would be $4,500.
Five hundredths of one percent !
10 percent.
change the percent to a decimal