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Earn +20 ptsQ: 5000 loan at 4 percent annually for six years?
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What is the simple interest paid annually for 5 years on a 700 loan at 11 percent per year?
The interest paid annually is 700*5/100 = 35
What is the amount of interest that is paid on a loan when the principal is 5000 the interest rate is 7 percent per year and the time is 2 years?
Simple interest I=Prt = (5000)(0.07)(2) = $700.Compound interest: A=P(1+r)t = 5000(1.07)2 = 5000(1.1449) = $5,724.50;I=A-P = 5,724.50 - 5000 = $724.50
What is the total compound interest of a loan for 5000 with an annual rate of 8 percent at the end of a two-year period?
It is 5000*[(1+8/100)2 - 1] = 5000*[1.1664 - 1] = 5000*0.1664 = 832
A loan of 5000 is made for 83 days at 6 percent what is the exact interest?
5000 x 6/100 x 83/365 = (300 x 83)/365 = 68.22
Calculate the amount of interest that is paid on a loan when the principal is 5.000 the interest rate is 7 percent and the time is 2 years?
50 x 7 x 2 ie 700 Simple Interest; 5000 x (1.07)2 - 5000 ie 724.50 Compound Interest
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