Oh, dude, you're hitting me with some math now? Alright, so if you have $20,000 and the interest rate is 3 percent, you'd earn $600 in interest. But hey, who's counting, right? Just throw that number in the bank and watch it grow... slowly.
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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.
775
0.0001
percentage = 0.6667% % rate: = 20000/3000000 * 100% = 2/3 * 1% = 0.6667
8 percent of 2000 is 160 x 3 = 480 9.5 percent of 2000 is 190 x 2 = 380 100 hundred dollars cheaper.