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Subjects>Math>Math & Arithmetic

How does penalty interest calculated?

Anonymous

∙ 13y ago

Updated: 9/15/2023

Penalty interest is calculated from the required and projected balance

Wiki User

∙ 13y ago

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How is accumulated interest calculated?

Accumulated or compound interest is calculated by adding interest to both the principal and any interest accumulated up to the point of the calculation.

What is the interest calculated only on the principal?

simple interest

What is a simple interest in math?

Simple interest is interest that is calculated only on the amount of unpaid principal on a loan. Such interest is not added to the value of the loan but is tracked separately. Compound interest is interest that is calculated on the total of unpaid principal and accumulated interest on a loan. The difference is in simple interest there is no interest charged on accumulated interest while in compound interest there is interest charged on accumulated interest.

What interest is calculated on both the amount borrowed and any previous interest?

Compound interest, but only if the previous interest is accumulated.

What is 16 percent interest rate on 3000 over a year?

That depends on exactly how the interest is calculated. If its calculated once per year the answer would be: 3000 * 16 = 48.000 / 100 = 480,- If your interest is calculated per month or per 3 months the interest is going to be slightly more.

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