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Interest Rates
When money is loaned out, the customer pays the loan back with a fee. The fee is predetermined at a specific rate. This is called an interest rate.
500 Questions
Four years ago Hakim borrowed 275 to help pay for new tires for his car. He agreed to pay interest at a simple annual interest rate of 4. How much did Hakim owe at the end of 4 years?
Asked by Wiki User
Interest each year is 275 × 4% = 275 × 4/100 = 11
→ total interest over 4 years is 4 x 11 = 44
→ total to repay after 4 years is 275 + 44 = 319
Why does a high interest rate discourage people from holding their money in cash?
Asked by Wiki User
They can earn interest on the cash if it is invested.
What Are The Interest Rates And Tenure Of The Unsecured Business Loan?
Asked by MaryLinda02
Unsecured business loan rates of interest in India usually range between 18-22%. There's a greater perceived risk by banks so rates for Unsecured Business Financial loans are usually greater compared to other kinds of financial loans. A Business Loan in India typically includes a tenor of one to three years.
When interest rates rise how might business and consumers change their economic behavior?
Asked by Wiki User
What is the current interest rate for the US?
Asked by Wiki User
Well, it is currently completely dysfunctional; if one is an insider, the interest rate is zero, or even negative. For an outsider, the sky is the limit.
Why would a bank give higher interest rates for money in a savings account than for money in a checking account?
Asked by Wiki User
If a sum on compound interest becomes three times in 4 years then with the same interest rate the sum will become 27 times in how many years?
Asked by Wiki User
What word best describes the process by which the government controls interest rates and the money supply in order to influence the economy?
Asked by Wiki User
What would be my interest rate for a new car credit score 704?
Asked by Wiki User
If you are allowed a loan your interest rate would not differ because of your credit score.
How many years will it take 100 to double check if you are simple interest rate is 4?
Asked by Wiki User
It will take 25 years for a 100 to double check if you have a simple interest of 4 percent.
