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How much money do i get back on 3000 dollars if my interest rate is .75?
Wiki User
∙ 8y ago
You would get 22.50 each year.
Wiki User
∙ 7y ago
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What do you understand by interest?
Among other things, it refers to a payment you make to borrow money. For example, you borrow 1000 dollars, and after a while, you pay back the 1000 dollars, plus an additional amount. This additional amount is called the "interest".
What is Interest is?
Interest means that you borrow money, and you owe it back with a little bit extra. e.g. you owe someone £10. After a month you give that money back. But for having let you borrow it, you might now owe £10 with 2 pounds (interest) added.
What does simple interest mean?
Simple interest is a pre-determined amount of money. Such as - I'll loan you $100 and you pay me back $110.
How many years will it take to pay a loan of 7 trillion dollars back with a 10 percent interest rate per day?
That all depends on how often you make payments, and the size of each payment. You certainly know this if you've ever used a credit card, and been the one responsible for the payments. Regarding the question ... nobody in his right mind borrows money at 10% per day interest. In the USA, there are "usury" laws that outlaw that kind of interest rate.
How many years will it take to pay a loan of 7 trillion dollars back at a 10 percent per day interest rate?
That all depends on how often you make payments, and the size of each payment. You certainly know this if you've ever used a credit card, and been the one responsible for the payments. Regarding the question ... nobody in his right mind borrows money at 10% per day interest. In the USA, there are "usury" laws that outlaw that kind of interest rate.
What is th difference between interest and principal?
If you borrow some money, say 10 Dollars, the person who you borrowed from will want you to pay it back. The 10 Dollars you have to give back are the principal. Chances are, they'le want some extra money along with the principal. In this example we'll say an extra dollar. The extra money you pay back is called interest.
What is borrowing money?
borrowing money is when you ask somebody to politely lend you a few dollars or even a wad of money, until you pay them back without interest.
What is the meaning of interest in a loan?
The meaning of interest in a loan means, that the person that loans the money will charge you an extra because of that loan. Example: You ask for a loan of 50 dollars and it has an 5% interest. That means that when you give back the loan you will have to give 55 dollars instead of 50.
What do you understand by interest?
Among other things, it refers to a payment you make to borrow money. For example, you borrow 1000 dollars, and after a while, you pay back the 1000 dollars, plus an additional amount. This additional amount is called the "interest".
What is the amount of money you will have to pay back in addition to the money you borrowed?
Interest
Where does the government gets its money from?
The Government gets its money (federal reserve notes) from the Federal Reserve Bank. The Federal Reserve Bank is a private business; it makes money and sells it to the government at interest. Suppose the governments wants to get 10 billion dollars. They just call up the FED and ask. They agree, but the government has to pay it back with interest because it it just a loan. In order to pay the interest, they use taxes to pay the banks back
How did liberty bonds work?
People gave money to the war effort and received that money back with interest after the war.
What is Interest is?
Interest means that you borrow money, and you owe it back with a little bit extra. e.g. you owe someone £10. After a month you give that money back. But for having let you borrow it, you might now owe £10 with 2 pounds (interest) added.
What are the advantages of owners funds?
There is no interest There is no deadline to when the money has to be paid back <3
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 do you really get back if you have a tax credit of 3000 dollars and you earn 50000 or 150000?
You save the tax on $3000 in whatever bracket you are in; so, if you are in a 20% bracket this is $600 in your pocket.
Do you have to pay interest back when you get a government grant?
No, when you get grant money you do not need to pay any of it back. Think of it as FREE money.
