60 x 7.39 x 4 ie 1773.60
60 x .0739 x 4 Multiply those together and tada
3000
Not usually. A "4 percent increase in the interest rate" usually means that there is some reference interest rate of x percent that is increased to 4 + x percent. This means that the interest paid increases from x percent of the principal to 4 + x percent of the principal. Therefore, the interest paid increases by 100 (4/x) %. For example, if a recent Federal funds rate of 1 % in the United States were to be increased by 4 %, the interest paid on any given amount of principal would increase by 400 %!
yes
500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.
1,773.60
The formula to calculate interest is as follows: Interest = Principal * No. of years * Rate of Interest / 100 So Interest = 10000 * 0.5 * 8 / 100 = 400/- The interest you will receive interest at the end of the 6 month period is Rs. 400/-
Simple Interest
60 x .0739 x 4 Multiply those together and tada
3000
Not usually. A "4 percent increase in the interest rate" usually means that there is some reference interest rate of x percent that is increased to 4 + x percent. This means that the interest paid increases from x percent of the principal to 4 + x percent of the principal. Therefore, the interest paid increases by 100 (4/x) %. For example, if a recent Federal funds rate of 1 % in the United States were to be increased by 4 %, the interest paid on any given amount of principal would increase by 400 %!
It is an increasing percentage as the repayment progresses. At the start, it is mostly interest and very little principal whereas near the end it is mostly principal and little interest.
500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.
yes
yes
50 x 7 x 2 ie 700 Simple Interest; 5000 x (1.07)2 - 5000 ie 724.50 Compound Interest
Principal = 30/[1.042 - 1] = 367.65