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What is the simple interest rate of a 525 loan at 4.5 for 60 days?
Tdrake2011
The simple interest on a 525 loan at the rate of 4.5 percent for 60 days is 3.9375.
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∙ 9y ago
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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 is the interest rate on a 5000 loan?
an individual borrowed 5,000 forf 80 days and paid 100 in interest what was the rate of the loan use ordinary interest
What calculates the payments for loan based on constant payment at a constant interest rate?
Simple interest.
Is a simple interest loan calculator simple?
Yes, usually these calculators just allow you to put in the principal amount of the loan, number of months the loan is over, and the interest rate and it helps you figure out your problems.
How do you take out a simple interest loan on a car at 14289 The interest rate is 3.5 percent for 5 years How many will you pay in interest during the term of the loan?
2,500.58 (A+)
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.
The concepts of simple interest?
Simple interest is interest that is applied to the original amount for the whole period of the investment or loan. This is unlike compound interest where the interest received on an investment is re-invested, or the interest due on a loan is added to the loan outstanding if unpaid, and so itself gains interest. With simple interest on loans, it is often calculated that borrowing a certain amount for a number of years will be charged at a certain rate for the whole period; then at the end of the period of borrowing the original loan and all the interest are repaid at that moment. However, if monthly repayments are made, then part of the original loan as well as the interest for the month are repaid; this means that not all the loan is borrowed for the whole period and so the real [effective] rate of interest for the period is actually higher than the given rate as that given rate assumes no part of the loan is repaid until the very end.
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 benefits of having a fixed rate student loan?
The biggest benefit of having a fixed rate student loan is quite simple. The intrest rate you were given at the start of the loan is locked in; meaning the interest rate will not increase during the loan period.
If you are borrowing which is best simple or compound interest?
If the rate of interest is the same, simple interest benefits the borrower. Compound interest charges (or pays) interest on the accrued interest as well as the principal amount. This is why the APR (annual percentage rate) may differ from the base interest rate on a loan, or on revolving credit balances.
Calculate the simple interest on a loan with a principal of 6.000 an interest rate of 7.39 percent and a term of four years?
1,773.60
How is simple interest simalar to percent?
Simple interest is determined by multiplying the interest rate by the principal of the number of periods. Where, P is the loan and the amount is usually expressed as an annualized percentage.
