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Does an increase of 4 percent in the interest rate result in a 4 percent increase in the total interest paid?
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 %!
Eight hundred dollars is borrowed at an interest rate of 1.5 percent per month Find the interest paid over a period of 5 months?
$60.00
How much interest will be paid on 350 if the rate of interest is 18 percent?
63 dollars
Is the percent of the principal paid as interest per time period Answer?
yes
How do you find interest rate?
To find interest rate you multiply the price by the time by the percent
Does an increase of 4 percent in the interest rate result in a 4 percent increase in the total interest paid?
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 %!
Eight hundred dollars is borrowed at an interest rate of 1.5 percent per month Find the interest paid over a period of 5 months?
$60.00
How much interest will be paid on 350 if the rate of interest is 18 percent?
63 dollars
5 percent interest compounded annually means percent paid every?
year
What does 4.9 percent p. a. interest mean on a credit card?
It means the percent of interest paid annually (p.a. means per annum).
Is the percent of the principal paid as interest per time period.?
yes
Is the percent of the principal paid as interest per time period Answer?
yes
What was the interest paid for a loan of 800 at 5 percent annual interest for 9 months?
To calculate the interest paid on a loan of $800 at a 5 percent annual interest rate for 9 months, you can use the formula: Interest = Principal × Rate × Time. Here, the time should be in years, so 9 months is 0.75 years. Thus, the interest is $800 × 0.05 × 0.75 = $30. Therefore, the interest paid for the loan is $30.
How do you find interest rate?
To find interest rate you multiply the price by the time by the percent
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
949 at 12.25 percent for 3.5 years?
Monthly Payment: $27.90Total Paid on Loan: $1,171.70Total Paid in Interest:$ 222.70
What is the percentage of interest when the principal is 3500.00 the term is 3 months and the interest paid is 525.00?
.05% or 1/20th of a percent
