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What is the amount of interest that is paid on a loan when the principal is 5000 the interest rate is 7 percent per year and the time is 2 years?
Wiki User
∙ 11y ago
Verified answer
Simple interest I=Prt = (5000)(0.07)(2) = $700.
Compound interest: A=P(1+r)t = 5000(1.07)2 = 5000(1.1449) = $5,724.50;
I=A-P = 5,724.50 - 5000 = $724.50
Wiki User
∙ 11y ago
Anonymous
15000
If the principal on a loan is 2455 and the interest rate is 3 percent and the simple interest amount is 441.90 how long will it take?
6 years
How much is 5 years auto loan at 0.9 percent interest?
That would depend on the original principal (the amount you borrowed) and how they compute interest.
Find the final amount for the investment principal 400 annual interest 7.6 percent time 1.5 years?
441
Juan deposited 200 in a savings account earning 3 percent interest over 2 years What was the total amount of interest earned after 2 years?
Interest for 1st year = $6 Principal after 1 year = $206 Interest for 2nd year = $6.18 Principal after 2 year = $212.18 Total Interest earned after 2 years = $12.18
What is the principal balance if the principal plus interest at the end of 1 and a half years is 3360 at an annual interest rate of 8 percent?
3000
A principal of 950 is invested in an account at 7 percent per year simple interest What is the amount of the principal after 5 years?
1282.5
What is the simple interest on 642 for 7 years at 11 percent per annum?
$494.34 Interest= principal amount * time* simple interest %
What is the principal amount which earns Rs24 as simple interest for 3 years at 10 percent interest per annum?
Rs 80.
If the principal on a loan is 2455 and the interest rate is 3 percent and the simple interest amount is 441.90 how long will it take?
6 years
How much is 5 years auto loan at 0.9 percent interest?
That would depend on the original principal (the amount you borrowed) and how they compute interest.
Find the final amount for the investment principal 400 annual interest 7.6 percent time 1.5 years?
441
What is the total amount you would pay back on a simple interest loan with a principal of 10500 at 6.3 percent for five years?
13,807.50
Juan deposited 200 in a savings account earning 3 percent interest over 2 years What was the total amount of interest earned after 2 years?
Interest for 1st year = $6 Principal after 1 year = $206 Interest for 2nd year = $6.18 Principal after 2 year = $212.18 Total Interest earned after 2 years = $12.18
What is the principal balance if the principal plus interest at the end of 1 and a half years is 3360 at an annual interest rate of 8 percent?
3000
What the principal if the interest is 30 and the rate is 4 percent and the time is 2 years?
Principal = 30/[1.042 - 1] = 367.65
Calculate the simple interest on a loan with a principal of 6.000 an interest rate of 7.39 percent and a term of four years?
1,773.60
How do you calculate fixed interest?
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000
