1600
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.
365$ give or take :)
237.5
141,000
missing word
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.
558,92
365$ give or take :)
237.5
141,000
141000
missing word
Monthly Payment: $27.90Total Paid on Loan: $1,171.70Total Paid in Interest:$ 222.70
The interest paid annually is 700*5/100 = 35
To determine how much interest you would pay for any type of loan, you need to know how long you will be repaying the loan (e.g. 48 months, 72 months) and/or how much you will be repaying each month. For a loan of $8,500 with 11% interest, you would pay $2319.11 in interest if you paid $200 per month. But if you paid $400 per month, you would only pay $997.62 in interest. To calculate other repayments, see the link under "related links" for Bankrate's interest calculator.
A fixed percent of the principal of a loan or investment is called a fixed interest. It is paid monthly or annually or whatever based on the agreement made.
63 dollars