1.5% means 1.5/100 = 0.015
0.015 * $285.76
= $4.29 in simple interest
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An inexpensive loan is one with a 0.12 percent interest rate. A medium price loan would be about a 6.5 percent interest rate. Lastly, an expensive loan would be one with an interest rate of 15 percent or more.
If your current rate of interest is 15%, whether your refinance your mortgage is something you should discuss with your bank or financial advisor. If you think you could be getting a better rate, you can take it up with them.
15
usually its 15-19%
An amortization table would give you the answer. If this is a real life situation and you are in the US you would be getting screwed at this rate of interest.
A good interest rate for 15 years mortgages is between 2.0 and 3.0 percent. Getting the lowest interest rate depends on your credit history.
An inexpensive loan is one with a 0.12 percent interest rate. A medium price loan would be about a 6.5 percent interest rate. Lastly, an expensive loan would be one with an interest rate of 15 percent or more.
Interest = 83 x 3 x 15 = 3735. This is assuming you meant "simple" interest. If it is a one-off interest rate then the term is irrelevant and interest is 83 x 15 ie 1245
If your current rate of interest is 15%, whether your refinance your mortgage is something you should discuss with your bank or financial advisor. If you think you could be getting a better rate, you can take it up with them.
>about $15 <
Any interest rate below 5% is a favorable rate currently. This interest rate is a competitive rate.
15
Current 30 year mortgage rates are up to 5.08% as of April 1, 2010. The average 15 year mortgage interest rate increased to 4.39 percent, up from the previous week’s average interest rate of 4.39 percent.
4000 + 600(15%) = 4600
% rate = 15/60 * 100% = 25%
5.83$ === Solution Method: 1. "ordinary interest" = "simple interest" <-- which is the correct financial term to use. 2. 7% APR interest can be expressed in any increment that you wish, by dividing it by a specific period of time (e.g.: annually rate = .07/1, monthly rate = .07/12, weekly rate = .07/(365/7), daily rate = .07/365 3. In your case, you want to compute the interest for 2 month as follows: (.07/12) * 2 * 500$ = 5.83$ <-- this is the simple interest owed
% rate:= 15/1= 15 x 100%= 1500%