500*6/100*3 = 90
2.25
75
500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.
1.5% monthly
17% of 20,000 = 3,4007.5% of 1,200 = 903,400 + 90 = $3,490
2.25
62
75
2.25
500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.
1.5% monthly
Equal the interest rate on the note times the carrying amount of the note at the beginning of the period.
0.67 percent
17% of 20,000 = 3,4007.5% of 1,200 = 903,400 + 90 = $3,490
200
1.75%
14.4%