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

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3000

3000

rose by 1 percent

1.5% monthly

To find interest rate you multiply the price by the time by the percent

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% rate = 75000%= 3000/4 * 100%= 750 * 100%= 75000%

3000

3000

rose by 1 percent

rose by 1 percent

rose by 1 percent

If the interest is compounded then you would have 6584.91

The interest of a small business loan depends on the size of the loan. For loans under $100 000 the interest rate is seven to eight percent and for loans over $100 000 the interest rate is six to seven percent.

% rate = 1000/3000 * 100% = 33.33%

% rate:= 3000/64999 * 100%= 0.0462 * 100%= 4.62%

1.5% monthly

To find interest rate you multiply the price by the time by the percent