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What is the amount of interest on a loan of 3200 at 6 percent interest for 60 days using the ordinary interest method?
[{(3200*6)/100}/365]*60
How do you calculate accrued interest on a loan?
To calculate accrued interest on a loan, you multiply the loan amount by the interest rate and the time period the interest has been accruing for. This gives you the amount of interest that has accumulated on the loan.
How do you calculate 4.75 percent daily interest paid on a home equity loan over 8 years?
You can't. In order to make the calculation you need to know the amount of the loan, the interest rate, and the length of the amortization period. You're missing the amount of the loan.
How can I calculate the total interest paid on my mortgage?
To calculate the total interest paid on your mortgage, you can use the formula: Total Interest Total Payments - Loan Amount. This means you subtract the initial loan amount from the total amount you will pay over the life of the loan. This will give you the total interest paid.
How do you calculate hire purchase interest?
To calculate hire purchase interest, first determine the total cost of the item and the deposit amount. Subtract the deposit from the total cost to find the financed amount. Next, apply the interest rate, typically expressed as an annual percentage rate (APR), to the financed amount over the repayment period to calculate the total interest. Finally, add the interest to the financed amount to determine the total amount payable over the hire purchase term.
How much interest is 0.20 percent?
0.20 percent is equivalent to 0.002 when expressed as a decimal. This means that for every $100, 0.20 percent represents an interest of $0.20. If applied to a different amount, you can calculate the interest by multiplying that amount by 0.002.
What is the amount of interest on a loan of 3200 at 6 percent interest for 60 days using the ordinary interest method?
[{(3200*6)/100}/365]*60
Calculate the simple interest on the amount of 567.23 at 5 percent for two years?
56.72
Calculate the simple interest on the amount of 550.00 at 7 percent for 1 year?
The simple interest on the amount of $550.00 at 7 percent for one year would be $38.50. To reach the answer, multiply 550 by .07 which equals 38.50.
Calculate the sum to which 6000 will amount in 5years at 12 percent per annum compound interest?
5,132.33^10
The beginning amount used to calculate interest?
it is the principal amount... i.e., the amount for which u have to calculate the interest Enjoy!! Kush
How do YOU calculate interest on working capital at the rate of 12 percent per annum?
(Amount of working capital/100)*12
How do you calculate accrued interest on a loan?
To calculate accrued interest on a loan, you multiply the loan amount by the interest rate and the time period the interest has been accruing for. This gives you the amount of interest that has accumulated on the loan.
Calculate the total amount paid for a new car if the car costs 12489 and is financed at 3.5 percent interest for 5 years?
14674.58
How much is 3 percent interest on 150000?
To calculate 3% interest on $150,000, you first convert the percentage to a decimal by dividing by 100, which gives you 0.03. Then, you multiply the decimal interest rate by the principal amount ($150,000) to find the interest. Therefore, 3% interest on $150,000 would be $4,500.
What would 5 percent interest on 20.000 over 5 years?
To calculate 5 percent interest on $20,000 over 5 years, you can use the formula for simple interest: Interest = Principal × Rate × Time. Here, the interest would be ( 20,000 \times 0.05 \times 5 = 5,000 ). Therefore, the total amount after 5 years would be $20,000 (principal) + $5,000 (interest) = $25,000. If compounded annually, the total amount would be higher due to interest on interest.
The formula for ordinary interest using exact time is?
The formula for simple (ordinary) interest on a bank deposit is Deposit Amount x Rate x Time (# of days) on Deposit.
