When money is loaned out, the customer pays the loan back with a fee. The fee is predetermined at a specific rate. This is called an interest rate.

When money is loaned out, the customer pays the loan back with a fee. The fee is predetermined at a specific rate. This is called an interest rate.

The answer is 3825. Hope it helps :) Read More

Of the two - you're better off paying the higher-rate card first. If you spread the cost of the higher-rate card over a loinger period - you'll pay more interest, than if you pay the same instalments to the lower-rate card. Read More

It depends what country you're in. Most commonly, the Central Bank has the right tools (decreasing general interest rate towards national banks) to prevent the increase in interest rates. Read More

Low interest rate environments are meant to stimulate economic growth by making it cheaper to borrow money to finance investment in both physical and financial assets. One special form of low interest rates is negative interest rates, where depositors must pay to keep money with the central bank.do u need more about i mean you r Florida people so just cheek and visit United Financial Counselors is a non profit organization Read More

The simple interest on a 525 loan at the rate of 4.5 percent for 60 days is 3.9375. Read More

The current yearly rate comes out to be 7.2 percent. Read More

If the monthly interest rate is 0.6%, you can multiply that by 12 to get an approximation of the yearly rate. For an exact calculation (involving compound interest), you basically convert the interest rate (0.6% a month) to a factor - that is, your total money increases by a factor of 1.006 (i.e., 1 + 6%) a month. You can raise this to the power 12 to convert it to yearly, then subtract one to… Read More

The total amount to be repaid on a one-year term loan of 500 dollars with an interest rate of 12 percent depends on how often it is compounded. If it is only compounded once during the year, you will owe 560 dollars after one year. Read More

Yes, it would be wiser to repay smaller debt of same interest rate first. Read More