Q: What is the simple interest on a loan of 200 at 8 percent interest for 3 years?

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Simple interest = 1000 * 5/100 * 3 = 150

It is 240 currency units.

6 yrs @ 10% = 60% = 3000

The number of years does not matter in this question. At exactly $5700 at 5.3% interest, you would pay $302.10 for the month.

Interest = 2500*0.067*3.5 = 586.25 So total repayment = 2500 + 586.25 = 3086.25

Related questions

The simple interest on a loan of 5 700 at 5.3 percent for 4.5 years is 1359.45.

1359.45

Simple interest = 1000 * 5/100 * 3 = 150

Total simple interest = 2500*11/100*3 = 825

You already gave the simple interest - 9 percent. Rethink and ask your question again.

It is 240 currency units.

2,500.58 (A+)

1,773.60

365$ give or take :)

$150. 5% interest per $1000 is $50 per year. You had the loan 3 years- $50 x 3.

$150. 5% interest per $1000 is $50 per year. You had the loan 3 years- $50 x 3.

The interest is 5 X 0.09 X 14500 = 6525.