Well lets calculate that 3.25% for a month is $325.00 so if you times that by 12 months it would be $3,900 for a year, in 3 years it would be $11,700 in interest plus the capital of 10,000. So at the end of those 3 yrs. you'll need to pay back the full amount of $22,700.
I just did the math for myself on a pre-settlement I'm trying to get for that same amount and interest rate. Good luck!
simple interest .. A = P(1+r)t 10000 = P(1.05)5 P = 10000 / (1.05)5 P = 7835.26
To calculate the interest gained on something, a simple formula is used. Initial value x (percentage increase as a decimal)^years So: 10000 x 1.05^15 = 20789.28 (2d.p).
The monthly interest is 100.
An average of 321.56
You will have $11576.25
3000
simple interest .. A = P(1+r)t 10000 = P(1.05)5 P = 10000 / (1.05)5 P = 7835.26
Interest = Principal x rate x time 17000= 100000(0.10) t 17000=10000 t t=17000/10000 t=1.7 years
debit cash 9000debit tax 1000credit interest income 10000
To calculate the interest gained on something, a simple formula is used. Initial value x (percentage increase as a decimal)^years So: 10000 x 1.05^15 = 20789.28 (2d.p).
Total = 10000(1+i)n Total = 10000(1.2321)2 Total = 12321 Change = interest gained = 12321 - 10000 = 2321
79.17
The monthly interest is 100.
$5.77
It is 300.
600.00$
An average of 321.56