Simple interest is calculated: Interest= Principle X Rate X Time. In this case Interest= 20000 X .089 X 6 (72 months= 6 yrs) which equals $10680 in interest. You would owe/pay $30680 at the end of the 72 months.
763.89
15,000*0.0425*5/12 = 265.625 unless it is compounded on a daily basis.
One thousand months. 83 years, 4 months.
3000*(7/100)*(6/12) = 105 dollars
$60.00
763.89
Eighty months. That's six years, eight months and that's just the principal.
for a few days or months
15,000*0.0425*5/12 = 265.625 unless it is compounded on a daily basis.
Eleven..? months? years?. Simple or compound interest?
Interest is normally paid over 12 months.So after 12 months at 2.99%, 29.90 dollars would be paid.
One thousand months. 83 years, 4 months.
honey, you cant
3000*(7/100)*(6/12) = 105 dollars
Payday loans don't offer loans that are as much as $3000 dollars. They only offer a few hundred dollars at most, and the interest rates are around 20 to 40 dollars.
$60.00
To do interest of a number, you have to use the formula prt=i, or principle times rate time equals interest. The principle is the dollar amount. Like for example, I'm going to say I'm borrowing $10,500 from the bank. The rate is the percent. For example, I'm going to borrow that $10,500 at a rate of 16%. The time is the amount of years you will be borrowing this money. (Or if it gives it to you in months, put the number of months over 12, or if it gives you weeks, put that number over 52, etc..) So, I'm going to say I'm borrowing $10,500 at a rate of 16% for 3 years. In the example I've given, you would just multiply 10,500 times 16% (or .16) times 3. After you multiply the three numbers, you get $5,040. That's the interest, but then when you pay the bank back, you will have to pay them $15,540. (The original amount you borrowed plus the interest.)