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Calculate the amount of interest on 2 000.00 for 4 years compounding daily at 2.25 percent APR From the Monthly Interest Table use 1.094171 in interest for each 1.00 invested?
The question cannot be answered. 1.094171 monthly is not equivalent to 2.25 APR. So the question contains inconsistent information.
What is the formula for finding monthly payment when you know the interest and principle amouint?
total cost= monthly payment [1-(1+APR)to the power of -n/APR
Which yields more 8 percent apr compounded monthly or 8.5 percent compounded semi-annual?
8% compounded monthly is equivalent to an annual rate of approx 152% . 8.5% compounded six monthly is equivalent to "only" 17.72% so the first is clearly larger.
How do you calculate APR in PHP?
<?php $month = 360; //How many month you have for payment $monthlyPayment = 671.96; //Your monthly payment $moneyBorrowed = 99000; //How much you borrowed $totalPaid = $month * $monthlyPayment; //Number of months * Monthly payment $APRequ = $moneyBorrowed / $totalPaid; //Money Borrowed * Total money paid back $APRMonthly = abs($APRequ-1); //Returns the absolute value of the monthly APR $APR = $APRMonthly * 12; // Monthly APR to get Yearly APR echo $APR; ?>
What is 2000.00 for 4 years compounded daily at 2.25 percent apr?
APR stands for annual percentage rate. That being the case, it does not matter whether the interest is compounded every day or every millisecond. The effect, at the end of a year is interest equal to 2.25 percent. So, 2000 at 2.25 percent compounded, for 4 years = 2000*(1.0225)4 = 2000*1.093083 = 2186.17
Monthly interest rate is 1.6 percent what is the APR?
19.2
What is the monthly interest payment on 30 thousand dollars borrowed against a credit card with 30.0 percent apr?
$750 / month in interest rates.
Calculate the amount of interest on 2 000.00 for 4 years compounding daily at 2.25 percent APR From the Monthly Interest Table use 1.094171 in interest for each 1.00 invested?
The question cannot be answered. 1.094171 monthly is not equivalent to 2.25 APR. So the question contains inconsistent information.
What is the monthly interest payment on 10 thousand dollars borrowed against a credit card with 19.9 percent APR?
Your monthly payment, assuming you have quoted the interest rate correctly, should be $165.83 if you pay this off in one year (12 monthly payments)
What is the formula for finding monthly payment when you know the interest and principle amouint?
total cost= monthly payment [1-(1+APR)to the power of -n/APR
How do you calcutate an APR?
APR is calculated by multiplying the amount of the loan by the interest rate. Next divide by the length of time of the loan to get the monthly APR amount.Ê
Gretchen just got a new credit card that offers an introductory APR of 4.8 for the first 4 months and a standard APR of 15.6 thereafter. If interest is compounded monthly what is the periodic interest?
The monthly rate is 1.22%, approx.
How can I calculate the monthly payment with APR?
To calculate the monthly payment with APR, you can use the formula for loan payments: Monthly Payment P r(1r)n / (1r)n - 1 Where: P Principal loan amount r Monthly interest rate (APR divided by 12) n Number of monthly payments Plug in these values into the formula to find the monthly payment amount.
If you pay the minimum monthly payment will you owe interest?
Yup, you will owe a lot of interest, because a monthly minimum payment just keeps the card current and upto date. Whatever is your APR divide that by 12 is your monthly interest on the balance at that time.
Is the APR charged on a monthly basis?
No, the APR is an annual rate, not a monthly rate.
What was the APR if paid 195 interest on a 2000 purchase made 12 equal monthly payments?
17.5
How much interest will you pay on a 4000 pound loan over 48 months apr is 14.9 percent?
1333.67 pounds in interest if you also repay the capital with a constant monthly repayment of 111.12pounds, if you repay only interest you pay 2384 pounds over the 4 years.
