The interest rate is given in the question. It is 3.5%.
The amount of interest paid on the loan depends on how much of the loan (if any) is paid back during the period of the loan. If there are no interim payments, the total interest at the end of 5 years is 2681.85 approx.
177.50
The simple interest over a period of five years is $463.70
tu hola
425000
For compound interest F = P*(1 + i)^n. Where P is the Present Value, i is the interest rate per compounding period, and n is the number of periods, and F is the Future Value.F = (9000)*(1 + .08)^5 = 13223.95 and the amount of interest earned is 13223.95 - 9000 = 4223.95
Five years ago, the interest rates on mortgages was only at 0.5 percent. As of today, interest rate on mortgage soared to 2.5 percent. That is 500 percent increase for the past five years.
Eleven..? months? years?. Simple or compound interest?
67.57
177.50
463.72
"4045.50"
He would make 250*(5.4/100)*5 = 67.57
Typically the modification is for five years. After five years the interest rate goes up by 1 percent until it tops out at 5.###. Fair market rate.
Five hundredths of one percent !
13,807.50
700
$10,455 a+ls