PV = $1,783.53
=PV(5%,5,50,2000,0)
PV( interest_rate, number_payments, payment, FV, Type )
32500 is 325 "hundreds" so 7 times that ie 2275 is your annual interest.
The payment will be $3,670.78 per month.
95
To calculate 3 percent interest on $6,000, multiply $6,000 by 0.03. This equals $180. Therefore, 3 percent interest on $6,000 is $180.
14.4%
32500 is 325 "hundreds" so 7 times that ie 2275 is your annual interest.
The payment will be $3,670.78 per month.
The monthly interest is 100.
79.17
95
5 percent
25 percent
To calculate 3 percent interest on $6,000, multiply $6,000 by 0.03. This equals $180. Therefore, 3 percent interest on $6,000 is $180.
Multiply the principle by 1/12 of the interest to calculate how much interest you pay for that moth. Ex: 1/12 of 12.9% = 1.075% (same as .01075). 5000 X .01075 = 53.75 interest to pay for that month. Hence, the first 53.75 of your first payment is for interest alone.
14.4%
Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.
Interest =.15/365*123*10500 = $530.75 (approximate, depends on composite or accumulation terms) Total = $10,500.00 + 530.75 = $11,030.75 (approximate)