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What is a typical interest rate on payday cash loans?
The typical interest rate for a payday loan is usually between 300 and 700%. This is due to the rather extreme risk on the part of the person or business issuing the loan, and in some cases, the interest rate can go beyond 1000% APR.
What is nominal interest?
Nominal InterestA nominal interest rate is the interest rate that does not compensate for inflation. This is used in relation to "effective interest rate" or "real interest rate."" Real Interest Rate = Nominal Interest Rate - Inflation Rate " Improvement suggested by Palash Bagchi.
What is compounding rate?
Compounding rate is the interest rate at which the rate grow faster than the simple interest on deposit or loan made. It is also said "interest on interest".
What does representative mean with regard to interest rates?
A representative interest rate is an interest rate that is exemplary or acrhetypical rate.
Are interest rate and rate of return the same?
Yes, the interest rate and rate of return are exactly the same.
If the interest is 24000 if the principle is 4000 and the term is 2 years what is the rate?
The interest is 300% per year.
What is the car payment for a Chrysler 300?
That depends on the purchase price, interest rate, and length of the loan.
What is a typical interest rate on payday cash loans?
The typical interest rate for a payday loan is usually between 300 and 700%. This is due to the rather extreme risk on the part of the person or business issuing the loan, and in some cases, the interest rate can go beyond 1000% APR.
How long must 1000 invested at an annual interest rate of 3 percent to earn 300 in a simple interest?
>I=Prt > 300=1000(0.03)t > t=10 Time duration will be 10 years.
What is nominal interest?
Nominal InterestA nominal interest rate is the interest rate that does not compensate for inflation. This is used in relation to "effective interest rate" or "real interest rate."" Real Interest Rate = Nominal Interest Rate - Inflation Rate " Improvement suggested by Palash Bagchi.
What is 7 percent of 300 dollars compounded quarterly at annual interest rate?
7 per cent each quarter is equivalent to 31.08% over one year. At that rate 300 dollars would be worth 393.24 dollars.
How much money should be invested at an annual rate of 12 percent in order to earn 300 interest in a year?
2500
How do you calculate Interest rate if loan amount and monthly payments and loan amount is given?
17k 300 per month
How much money should be invested at an annual rate of 12 percent in order to earn 300 interest in year?
2500
What does the nominal interest rate mean?
A nominal interest rate is an interest rate that does not factor in the rate on inflation. Nominal interest rate could also refer to an interest rate that does not adjust for the full effect of compounding.
How does the real interest rate relate to the nominal interest rate?
A real interest rate and a nominal interest rate are quite similar. The only real difference between the two interest rates are that a nominal interest rate include the cost of inflation where as the real interest rate does not.
What is the formula to calculate monthly interest rate if the annual interest rate is known?
Annual Interest Rate divided by 12= Monthly Interest Rate
