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Answered 2012-11-11 02:56:28

[{(3200*6)/100}/365]*60

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Find the amount of interest on a loan of 6000 for 150 days is 210.50. Using the ordinary interest method what is the rate of interest on the loan?

it works out at roughly 11.71% - although that is if interest is only applied annually, I reckon this is probably not the case though, in which case the effective interest rate would be lower.



What is the ordinary interest of a loan of 500 at a 7 percent annual interest rate if the loan was made on March 15 and is due May 15?

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What are the disadvantages of the percent of sales method


How much interest does 10000 earn a month at 5 percent?

It depends on how it is calculated, but here is a list of the common answers depending on the method of interest earning: Compounded Annually: $10,000 x .05 = $500 / 12 = ~ $41.67


Is simple interest the same as compound daily interest?

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The formula used for percentage of sales is quite simple. It entails figuring out the total amount of sales which is equal to one hundred percent. The particular method used is a portion of the total sales.


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