0
an individual borrowed 5,000 forf 80 days and paid 100 in interest what was the rate of the loan use ordinary interest
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What is low interest loan?
The loan whose interest rate is low is called low interest loan. If you got a unsecured loan @ low interest rate then it would be low interest loan for you.
What is a fixed rate mortgage?
A fixed rate mortgage is a loan with an interest rate that does not change over time. Whatever the interest rate is when the loan is taken out, will be the interest rate for the entire duration of the loan.
What are the average loan interest rates for a small business?
There are many variables that factor into the interest rate of a loan. For instance, the interest rate on a loan below $100,000 is actually higher than that on a loan over $100,000. Expect an interest rate between 7-9%.
What is an example of an inexpensive loan and a medium price loan and a expensive loan?
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.
What is the term for a loan in which the interest rate does not change during the entire term of the loan?
a fixed rate loan.
What is the total compound interest of a loan for 5000 with an annual interest rate of 8 percent at the end of a two year period?
$432
What is the total compound interest of a loan for 5000 with an annual interest rate of 8 percent at the end of two year period?
$432
What is the amount of interest that is paid on a loan when the principal is 5000 the interest rate is 7 per year and the time is 2 years?
Simple interest I=Prt = (5000)(0.07)(2) = $700.Compound interest: A=P(1+r)t = 5000(1.07)2 = 5000(1.1449) = $5,724.50;I=A-P = 5,724.50 - 5000 = $724.50
What is the total compound interest of a loan for 5000 with an annual interest rate of 8 percent at the end of a two-year period?
It is 832 units of currency.
What is low interest loan?
The loan whose interest rate is low is called low interest loan. If you got a unsecured loan @ low interest rate then it would be low interest loan for you.
What is the amount of interest that is paid on a loan when the principal is 5000 the interest rate is 7 percent per year and the time is 2 years?
Simple interest I=Prt = (5000)(0.07)(2) = $700.Compound interest: A=P(1+r)t = 5000(1.07)2 = 5000(1.1449) = $5,724.50;I=A-P = 5,724.50 - 5000 = $724.50
What is a fixed rate mortgage?
A fixed rate mortgage is a loan with an interest rate that does not change over time. Whatever the interest rate is when the loan is taken out, will be the interest rate for the entire duration of the loan.
What is the total compound interest of a loan for 5000 with an annual rate of 8 percent at the end of a two-year period?
It is 5000*[(1+8/100)2 - 1] = 5000*[1.1664 - 1] = 5000*0.1664 = 832
What is the average interest rate on a motorcycle loan?
The average interest rate on a motorcycle loan is 100000
Calculate the amount of interest that is paid on a loan when the principal is 5.000 the interest rate is 7 percent and the time is 2 years?
50 x 7 x 2 ie 700 Simple Interest; 5000 x (1.07)2 - 5000 ie 724.50 Compound Interest
What are the average loan interest rates for a small business?
There are many variables that factor into the interest rate of a loan. For instance, the interest rate on a loan below $100,000 is actually higher than that on a loan over $100,000. Expect an interest rate between 7-9%.
What is an example of an inexpensive loan and a medium price loan and a expensive loan?
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.
