Wiki User
∙ 11y ago5% interest rate has the multiplier of 1.05 per year.
600 x 1.05^2 = 661.50
interest paid =661.50 - 600 = 61.50
Wiki User
∙ 11y ago177.50
10 years
If the interest rate was eight percent, it would take about 9 years to double your principle.
That would depend on the original principal (the amount you borrowed) and how they compute interest.
The total interest would be 73606.07 dollars, approx.
10 years. Compound interest would take 7 years.
annal
If it is not compounded the interest would be 2000x10x.05=1000 If it is compounded then it is different.
You will have $11576.25
177.50
10 years
67.57
That would depend on the original principal (the amount you borrowed) and how they compute interest.
If the interest rate was eight percent, it would take about 9 years to double your principle.
After 6 years at a 30 percent interest rate, the total amount accumulated would be 1.30 times the original amount. This increase accounts for both the original value and the interest earned over the 6 years.
The total interest would be 73606.07 dollars, approx.
He would make 250*(5.4/100)*5 = 67.57