That depends on exactly how the interest is calculated. If its calculated once per year the answer would be:
3000 * 16 = 48.000 / 100 = 480,-
If your interest is calculated per month or per 3 months the interest is going to be slightly more.
3000
3000
rose by 1 percent
1.5% monthly
To find interest rate you multiply the price by the time by the percent
% 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