Best Answer

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

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

More answers

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

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

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

Write your answer...

Submit

Still have questions?

Continue Learning about Math & Arithmetic

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

95

The interest is 5 X 0.09 X 14500 = 6525.

365$ give or take :)

The interest rate is given in the question. It is 3.5%.The amount of interest paid on the loan depends on how much of the loan (if any) is paid back during the period of the loan. If there are no interim payments, the total interest at the end of 5 years is 2681.85 approx.

Related questions

13,807.50

13,807.50

$48

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

Simple interest means the interest is calculated one time on the total principal of the loan. Therefore, you would pay back $11,161.50 on this loan. However, simple interest loans are very uncommon; most loans in life have compound interest.

79.17

95

The monthly interest is 100.

5 percent

1359.45

2,500.58 (A+)

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