###### Asked in Loans

Loans

# How much will Pauline pay in interest if she takes out a simple interest loan with a principal of 3900 at 72 percent for three years?

## Answer

###### Wiki User

###### 05/23/2012

842.40

## Related Questions

###### Asked in Personal Finance, Loans, Math and Arithmetic, Algebra, Money Management

### How much will Pauline pay in interest if she takes out a simple interest loan with a principal of 3900 at 7.2 percent for 3 years?

I = ptr/100 = (3900 x 3 x 7.2)/100 = 842.40

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$494.34
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Assumption: "7 2" is actually 7.2
Simple interest is simple. All you do is multiply the principal
by the rate to get the yearly amount of interest. Therefore, 3900
times 7.2 is the same as $3900 x 0.072 = $280.80 per year interest.
Since its over 3 years, just multiply by 3.
Therefore, you get $280.80 x 3 = $842.40 in interest.
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###### Asked in Mathematical Finance, Algebra, Calculus

### The difference between the simple and compound interest on a certain sum is Rs250 for two years at 5 percent Pa per annum Find the sum?

simple interst is when you earn interest from your principal but
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###### Asked in Business & Finance

### Difference between simple and compound interest?

simple interes: on principal only; compound interest: on both
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###### Asked in Math and Arithmetic, Mathematical Finance, Algebra

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Simple interest is determined by multiplying the interest rate
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### What is the simple interest for a loan with 500 principal 10 percent annual rate and a 2 year time period?

500 principal, 10 percent annual rate => 50 annual
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###### Asked in Math and Arithmetic, Mathematical Finance, Algebra

### If a simple interest of 4.5 percent was paid at the end of the year then find the balance at the end of the year?

The formula for simple interest is Interest = Principal x Rate x
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### When a borrrower pays back a loan both the principal and the interest must be repaid what is the total amount you would pay back on a simple interest loan with a principal of 10500 at 6.3 percent for?

Simple interest means the interest is calculated one time on the
total principal of the loan. Therefore, you would pay back
$11,161.50 on this loan.
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###### Asked in Investing and Financial Markets, Business Accounting and Bookkeeping

### Interest calculated only on the principal?

This would be an example of simple interest.

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### Find the formula of simple interest?

the formula for simple interest is I=PRT (interest=principal
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### What is the difference of simple interest and simple discount?

Simple interest refers to interest that is only paid on
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###### Asked in Mathematical Analysis

### What is a simple interest in math?

Simple interest is interest that is calculated only on the
amount of unpaid principal on a loan. Such interest is not added to
the value of the loan but is tracked separately.
Compound interest is interest that is calculated on the total of
unpaid principal and accumulated interest on a loan.
The difference is in simple interest there is no interest
charged on accumulated interest while in compound interest there is
interest charged on accumulated interest.
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###### Asked in Math and Arithmetic, Java Programming, C Programming

### Write a program to calculate simple interest?

public double calculateSimpleInterest(double principal, int
years, double rate){
double interest = 0;
interest = (principal * years * rate)/100;
return interest;
}
The above method will take the principal, rate of interest and
no. of years and calculates the simple interest and returns the
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###### Asked in Computer Programming, Math and Arithmetic, Algebra

### Write a programme to calculate simple interest?

P = principal: T = time in years: R = interest rate percent
Input P , T, R
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###### Asked in Algebra

### How much interest would you earn if you were to deposit 575 for 3 months at 2.88 percent simple inerest?

2.88% means 2.88/100
= 0.0288
times principal
0.0288 * 575
= 16.56 * 3
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### What is the formula for simple interest?

I = P x r x t/100
where I = Simple Interest
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taken out. R=rate,the percent intrest T=time,the time elapsed or
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###### Asked in Loans, Math and Arithmetic, Algebra

### Calculate the simple interest on a loan with a principal of 6000 an interest rate of 7.39 percent and a term of four years?

60 x .0739 x 4
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###### Asked in Math and Arithmetic, Mathematical Finance, Similarities Between

### What is the difference between simple and compound interests?

Interest is defined as the cost of borrowing money, and
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### What is the interest on 950 invested for 4 years in a account that earns simple interest at a rate of 3 percent per year?

Interest = Principal*Time*Rate = 950*4*3% = 950*4*3/100 =
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### A principal of 835 is invested in an account at 3 percent per quarter simple interest Which of the following sequences describes the dollar amount of principal in the account at quarterly interval?

835.00, 860.05, 885.10, 910.15, 935.20,

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###### Asked in Mathematical Finance, Algebra

### What is the interest rate with interest earned of 76.00 and principal of 800.00 for 2 years?

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###### Asked in Math and Arithmetic, Percentages, Fractions, and Decimal Values

### What is the interest on 3000 at 12 percent?

Simple interest would be 360

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### What is 13 percent interest on 8000?

Simple interest would be 1040

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### Difference between simple interest and compound interest?

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interest is interest added to the principal of a deposit or loan so
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