404.95
The answer is 1200.00 dollars in interest on that loan of 20000.00 for 50 days at 6 percent interest.
60,000
11000*3/100 = 330 dollars.
It depends whether the interest is compound or not. However, if the interest is credited at the end of the first year, you would have 166250 interest at 9.5%
Credit card companies use several methods to calculate interest. There can be one or two billing cycles per month. Interest can be charged on the daily balance, new purchases, etc. You should refer to the "How finance charges are calculated" section of you billing statement.
6 dollars.
You will have 1903.737 dollars in your account at the end of 13 years. The year wise end balance will be:756816.48881.798952.3421028.531110.8121199.6771295.6511399.3031511.2471632.1471762.7191903.737This is under the assumption that you don't deposit any fresh funds into your account and initial 700 dollars + the accumulated interest is all that is available in the account.
$11,573.02 if you deposit at the beginning of the quarter or $11,444.27 if you deposit at the end of the quarter
50,940 dollars
500 x 0.05 = 25 . so the interest you earn is 25 dollars each year if you deposit 500 dollars.
(1.035)16 = 1.73398604 $500 ===> $866.99 (rounded)
If compounded, interest = 81.244 and balance = 456.245 If not compounded, interest = 75 and balance = 450
He pays $696.50 interest.
That depends on whether it's simple interest or compound interest.If compound, then it also depends on how often interest is compounded.Examples:$1,200 at 4% simple interest for 30 years adds up to $2,640.$1,200 at 4% interest compounded quarterly for 30 years adds up to $3,960.46.You can see that it does make a difference.
No if the account earns interest daily, it's earning interest on interest essentially. So if you have $100 and you earn 1% interest, you would have $101 dollars the next day and earn 1.01 dollars in interest, and so on.
$5.77
It is 223.86