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How much interest if you borrow 2000 at a rate of 6 percent for 2 years?
Wiki User
∙ 14y ago
if its simple interest: I = prt = 240
the total money to be returned is 2240
Wiki User
∙ 14y ago
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What is the present value of 2000 discounted back three years if the interest rate is 8 percent compounded monthly?
If a sum of money was invested 36 months ago at 8% annual compounded monthly,and it amounts to $2,000 today, thenP x ( 1 + [ 2/3% ] )36 = 2,000P = 2,000 / ( 1 + [ 2/3% ] )36 = 1,574.51
How many scores are there in 2 millennia?
1 score = 20 years2 millenia = 2,000 years = 100 score
What is 150 times 2000?
the answer to 150 times 2000 is 300 000
Which is bigger 2000 dm or 20 m?
2000 dm is the same as 200 m. 2000 dm is longer than 20 m, not bigger.
2000 square feet equals how many square metres?
2000 (square feet) = 185.80608 square meters
You borrow 2000 from a friend and promise to pay back 3000 in two years. What simple interest rate will you pay?
8
How much interest will 2000 earn at 5 percent over four years compounded yearly?
It earns 431.0125 . After 4 years, it has grown to 2,431.01 .
What is the amount of the simple interest on a 2000 loan at 6 percent interest for 2 years?
It is 240 currency units.
Find the simple interest earned after 5 years on an investment of 2000 at 3.2 percent?
320
How much would 2000 become in 10 years at 5 percent interest?
If it is not compounded the interest would be 2000x10x.05=1000 If it is compounded then it is different.
What is 2000.00 for 4 years compounded daily at 2.25 percent apr?
APR stands for annual percentage rate. That being the case, it does not matter whether the interest is compounded every day or every millisecond. The effect, at the end of a year is interest equal to 2.25 percent. So, 2000 at 2.25 percent compounded, for 4 years = 2000*(1.0225)4 = 2000*1.093083 = 2186.17
What is 5 percent interest of 40000 dollars?
2000
Which loan would cost the borrower less money 2000 at 8 for 3 years or 2000 at 9.5 percent for 2 years How much interest would the borrower save by taking the cheaper loan?
8 percent of 2000 is 160 x 3 = 480 9.5 percent of 2000 is 190 x 2 = 380 100 hundred dollars cheaper.
Future value of 2000 in 5 years at interest rate of 5 percent?
Compounded annually: 2552.56 Compounded monthly: 2566.72
How much interest would you receive for 2000 at 1 percent interest rate for 1 year?
1 percent of 2,000 is 20 .
How much interest would you gain from 2000 dollars at 6 percent for five years?
Assuming simple interest, just multiply 2000 dollars x (6/100) x 5. For compound interest, the formula is a bit more complicated. You would get some more interest in the case of compound interest.
Is the simple interest on 2000 for 2 years is 320 then what is the interest rate?
It is 8%
