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# What is interest loan on 10500 at 3 percent for 5 years?

Updated: 11/1/2022

Wiki User

10y ago

The total value of a loan of 10500 at 3 per cent, which is paid back at the end of 5 years is

10500*(1.03)5 = 12172.38

So the interest on the loan is 12172.38 - 10500 = 1672.38

The interest will be lower if the loan is paid back, bit by bit, over the 5-year period. The interest on the loan will then depend on

• how often repayments are made
• whether in constant amounts or not
• how often the lender calculates the interest.

The total value of a loan of 10500 at 3 per cent, which is paid back at the end of 5 years is

10500*(1.03)5 = 12172.38

So the interest on the loan is 12172.38 - 10500 = 1672.38

The interest will be lower if the loan is paid back, bit by bit, over the 5-year period. The interest on the loan will then depend on

• how often repayments are made
• whether in constant amounts or not
• how often the lender calculates the interest.

The total value of a loan of 10500 at 3 per cent, which is paid back at the end of 5 years is

10500*(1.03)5 = 12172.38

So the interest on the loan is 12172.38 - 10500 = 1672.38

The interest will be lower if the loan is paid back, bit by bit, over the 5-year period. The interest on the loan will then depend on

• how often repayments are made
• whether in constant amounts or not
• how often the lender calculates the interest.

The total value of a loan of 10500 at 3 per cent, which is paid back at the end of 5 years is

10500*(1.03)5 = 12172.38

So the interest on the loan is 12172.38 - 10500 = 1672.38

The interest will be lower if the loan is paid back, bit by bit, over the 5-year period. The interest on the loan will then depend on

• how often repayments are made
• whether in constant amounts or not
• how often the lender calculates the interest.

Wiki User

10y ago

Wiki User

10y ago

The total value of a loan of 10500 at 3 per cent, which is paid back at the end of 5 years is

10500*(1.03)5 = 12172.38

So the interest on the loan is 12172.38 - 10500 = 1672.38

The interest will be lower if the loan is paid back, bit by bit, over the 5-year period. The interest on the loan will then depend on

• how often repayments are made
• whether in constant amounts or not
• how often the lender calculates the interest.