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How much money is ten percent interest?
It's 1/10th of the amount you put in. The more you deposit or invest, the more interest you get.
What interest rate would you be charged if you have borrowed r100000?
The answer will depend onwho you borrowed it from (a loan shark could well charge more than several hundred times what a reputable lender would charge),how long the loan was for,what the loan was for,what the expected return on your loan was,your credit rating or how risky the lender considered you,what securities you could put up - in case you did default on the loan,what the inflation rate was - now and over the term of the loan,the "normal" loan size for the lender.
Shawn bought a home for 100000 he put 20 percent down and obtained a mortgage fo 30 years at 5 5 percent what is the total interest cost of the loan?
Since Shawn bought the house for 100,000 and paid 20,000 (he put 20% down), the loan amount would be 80,000 (100,000 - 20,000). In order to find the total interest cost of the loan, first we need to find the balance that would be after 30 years with a 5.5% interest, and subtract from that balance the loan amount of 80,000: A = Pert A = 80,000e(0.055)(30) A = 416,558.39 I = A - 80,000 = 416,558.39 - 80,000 = 336,558.39 Thus, the house would cost 336,558.39 more than the price of the house, if Shawn would buy it in cash.
If you put 300000 dollars at 10 percent interest for 25 years how much money would you have?
The equation is: 300000 x (1 + 0.1)25 which equals 3250411.8
What is the fundamental difference between simple and compound interests?
Simple interest:Every time interest is paid, it's paid on the amount you originally put in.Compound interest:Every time interest is paid, it's paid on the amount you had after the last time interest was paid.So, part of the interest that's paid today is interest on all the interest that's ever been paid, ontop of the amount you originally put in.
