Sunday

March 29, 2015

March 29, 2015

Number of results: 32,244

**future value for simple interest**

a 5000 loan, taken now with a simple interest rate of 4% per year, will require a total repayment of 5400dllrs. After how many years t will the loan mature?
*June 14, 2014 by rosie*

**math**

Loan #1 Year Amount owed 1 $3796 2 $3942 3 $4088 Loan # 2 Year Amount owed 1 $977.53 2 $1036.18 3 1098.35 For loan #1 is simple interest. Loan #2 is compound interest How much was each loan originally Determine the future value of each loan after 10 years
*January 19, 2012 by Emma*

**Math**

1. Jacksonville Technical College received $3,445,553 in state aid on September 15 for the fall academic semester. The vice-president for finance decided to invest $2,000,000 in a 2-month investment that pays 11.5% simple interest. How much interest will the college earn on ...
*February 1, 2012 by T.*

**math**

Loan #1 Year Amount owed 1 $3796 2 $3942 3 $4088 Loan # 2 Year Amount owed 1 $977.53 2 $1036.18 3 1098.35 For loan #1 is simple interest. Loan #2 is compound interest How much was each loan originally Determine the future value of each loan after 10 years No one has answered ...
*January 19, 2012 by Annie*

**Math**

Anna Cavanaugh loaned her friend Jason 1,000 for 6 months at 6% simple interest. what is the future value of the loan and how much finance charge will Jason pay?
*December 8, 2012 by Queen*

**Compound Interest : Future Value and Present Value**

Payments of $1800 and $2400 weere made on a $10,000 variable-rate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semi-annually for the first two years and 10.74% compounded monthly thereafter. What amount was owed on the loan after ...
*July 24, 2009 by Math*

**simple interest rate**

Need simple interest rate (rounded to hundreths) on a loan of $3500 which in two months the maturity value was $3583. What is the formula to figure this problem?
*July 6, 2010 by Lisa*

**anonymous**

1.) an account invested in a month market fund grew from $67,081.20 to $67,359.39 in a month. What was the interest rate, to the nearest tenth? 2.)you are due a tax refund of $760. your tax preparer offers you a no-interest loan to be repaid by your refund check, which will ...
*March 15, 2011 by math i have a few questions.hepl pls ty*

**algebra**

The principal P is borrowed and the loan's future value, A, at time t is given. Determine the loan's simple interest rate, r, to the nearest tenth of a percent. P=$130, A=171.60, T=4 years
*February 4, 2011 by Anonymous*

**Math**

A person takes a simple interest loan at 7.5%. After 6 months, the amount of interest on the loan is $69.64. What was the amount of the loan? Please help me. I have been working on this for awhile.
*January 16, 2010 by Anonymous*

**MATH**

Martin takes out a simple-interest loan at 7.5 %. After 6 months, the amount of interest on the loan is $69.64. What was the amount of the loan? is $522.30 correct
*March 8, 2011 by anonymous*

**Math**

Choose the one alternative that best completes the statement or answers the question. Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent. Martin takes out a simple-interest loan at 7.5 %. After 6 months, the ...
*August 19, 2010 by Alex*

**Finance**

Find the future value of $10,000 invested now after five years if the annual interest rate is 8 percent. a. What would be the future value if the interest rate is a simple interest rate? b. What would be the future value if the interest rate is a compound interest rate?
*August 22, 2012 by tisha*

**math**

Belle had the choice of taking out a four year car loan at 8.5% simple interest or a Five year loan at 7.75% simple interest. If she borrows $15,000, how much interest would she pay for each loan? Which option requires less interest?
*September 8, 2014 by Ali*

**Math**

Jared obtained a simple interest loan for 1200 at a credit union at an annual interest rate o f 5.5%. if Jared paid $1430 to repay the loan, for how many months, was the money borrowed ? ( can you please tell me the steps. thanks )
*October 6, 2010 by thommini*

**math**

how do you calculate the simple interest on a loan of $18,500 at 11% INTEREST FOR 18 MONTHS?
*November 16, 2009 by Lou*

**Math**

What is the simple interest on a loan of $18,500 at 11% interest for 18 months?
*June 2, 2009 by Laurie*

**math**

Using the present value formula you deposit $12,000 in an account that pays 6.5% interest compounded quarterly. A. find the future value after one year? B. Use the future value formula for simple interest to determine the effective annual yield?
*August 14, 2011 by marie *

**Math **

Charlie wants to buy a $1000 TV in 9 months. How much should he invest now at 13% simple interest to have the money in 9 months?
*September 12, 2010 by Bernie *

**Math**

Acton choose from two loans offersS: 12,000 at 8% simple interest for 9 months: or a 12,000 9 month discounted loan at 7% discount. Based on the actual interest paid and the true rate on the discounted loan, which of the two loan offers will Acton choose?
*December 8, 2012 by Queen*

**Algebra**

This assignment is about a car loan. A financial institution in your community is advertising "Simple Interest Car Loans." Here is their ad. "Looking for an attractive loan for the car of your dreams? Well, look no more. Come in and show us your car deal. We will match any car...
*June 5, 2012 by Jewel*

**Math questions**

1. Shawn Fitzgerald finds a suitable property and agrees upon a selling price of $137,900. The mortgage company requires a 20% down payment and Shawn chooses to finance the property for 30 years at 8%. What is the total amount of interest charged, rounded to the nearest whole ...
*March 28, 2015 by Nadia*

**Finance**

To find the simple interest on a loan for 1 year at 12.5%, multiply the amount of the loan by 0.125. What simple interest will you pay on a loan of $1,458 at 12.5% for 1 year?
*November 24, 2009 by landi*

**Help math calc**

Find the future value of $700 deposited at 3% for 9 years if the account pays simple interest and the account pays compounded annually? The future value of an account that pays simple interest is what?
*February 21, 2013 by Tiffany *

**Maths Check**

Can Please someone check as per below I posted this yesterday and Drwls Answered and I post back the solution. Thanks Amortization of a $1000 Loan Interest Monthly payment rate 15yr 20yr 25yr 30yr 9.5% $10.45 $9.33 $8.73 $8.41 10.0% $10.75 $9.66 $9.09 $8.78 10.5% $11.06 $9.99...
*March 13, 2008 by Jen*

**math **

you borrow $1200 from a bank that bank charges 9.5% simple annual interest. after 15 months you pay back the loan. how much interest do you pay on the loan? what is the total amount that you pay the bank.
*December 6, 2012 by jordan *

**Maths**

Car loan interest rate is 7% loan payment $600 month 36 months left on loan If pay an addition $1000 with next regular $600 payment (due in a month), how much will it reduce the amount of time left to pay off the loan?
*February 13, 2014 by Nabil*

**math**

gail borrowed $3600 from a bank to buy a washing machine she pays back the loan in 24 monthly instalments at a simple interest rate of 2% a)calculate the simple interest on the loan b)the total amount to be repaid c)if gail repays the loan in 24 equal instalments ,find the sum...
*May 31, 2014 by John*

**algebra**

$306 was paid for 6 months on a simple interest loan at 8%. What is the principle?
*March 11, 2011 by kaven*

**Math**

1. Rishi ram obtained an installment loan for $3,000.00. He agreed to repay the loan in 6 monthly payments. His monthly payments is $516.50. What is the APR? MY ANSWER=0.33% 2. Tim Newman took out a simple interest loan of $1500 at a 10 percent interest for 12 months. After 4 ...
*March 24, 2015 by kk*

**Maths**

Amortization of a $1000 Loan Interest Monthly payment rate 15yr 20yr 25yr 30yr 9.5% $10.45 $9.33 $8.73 $8.41 10.0% $10.75 $9.66 $9.09 $8.78 10.5% $11.06 $9.99 $9.45 $9.15 11.0% $11.37 $10.33 $9.81 $9.53 11.5% $11.69 $10.66 $10.16 $9.90 12.0% $12.01 $11.01 $10.53 $10.29 12.5...
*March 12, 2008 by Jen*

**FIN**

After 12 months of making extra payments, what will be the loan balance? After 12 months of making the regular payment and investing the $50, what will be the loan balance? Under the regular payment and investing option, excluding the tax due on the interest earned, what is ...
*August 26, 2007 by HELP*

**math**

the total amount of interest on this loan of $6000 for 150 days is $210.50. what is the rate of interest on this loan? If not compounded, or simple interest, then Interest=Principal(rateinterest)*time Here time is 5/12 of a year, you are given the interest and principle. ...
*August 21, 2006 by Haydee*

**math**

Suppose you borrow $4200 at an annual simple interest rate of 10.5% for a term of 18 months. How much simple interest will you owe? What is the total amount you will have to repay (maturity value)? i am not good at this one working on my problem
*July 6, 2012 by tammy*

**Visual Basic 2008 Programming**

Help! I'm not sure how to start or how calculate. This is the project. Using For Next Loops. - When $1000 is deposited at 5 percent simple interest, the amount grows by $50 each year. When money is invented at 5 percent compound interest, then the amount at the end of each ...
*November 16, 2010 by Lee*

**math**

1. =SUM(A14,A8) 2. =C8+ 15 3. PMT function {PMT(D4D12,E4,-C4)} What will each of the above formulas do please see if I have the correct answer using excel or another spreadsheet document. 1. Is the sum between the two blocks listed the more blocks the more #'s to the equation...
*June 5, 2008 by Anonymous*

**Math**

Margaret recieved $671.50 in cash as proceeds from a loan of $680.00 The discount rate was 10% simple interest. Find the discount period in months. Hummm. With simple interest, a rate of 10% on $680, in one month the balance would be 680*(1+(0.1/12)) = 685.66666. Ergo, the ...
*July 11, 2007 by Sabrina*

**math**

The owner of a service station receives a loan of $8,500 at 10.5% for 7 months. Find the amount of simple interest
*September 20, 2013 by d*

**MATH**

Calculate the maturity value of a simple interest, eight-month loan of $15,000 if the interest rate is 4.5%.
*November 14, 2013 by junie w.*

**mth**

Calculate the maturity value of a simple interest, eight-month loan of $15,000 if the interest rate is 4.5%.
*November 17, 2013 by liza*

**Simple Interest & Maturity Value**

On September 7, Jennifer Rick went to Park Bank to borrow $3,200 at 11 2/3% interest. Jennifer plans to repay the loan on January 5. Assume the loan is on ordinary interest (ordinary interest uses 360 days a year). Solving for: 1. interest Jennifer will owe on January 5 2. the...
*February 16, 2012 by Angie*

**math(simple interest)**

A $9,000 loan is to be repaid in three equal payments occurring 60, 180, and 300 days, respectively, after the date of the loan. Calculate the size of these payments if the interest rate on the loan is 7 1/4%. Use the loan date as the focal date.
*July 22, 2009 by Thara*

**algebra**

john borrowed $650 from credit union . interest rate is 7.9% , and takes loan for 6 months . what will be his monthly payment to repay loan plus interest ?
*April 23, 2012 by starasia *

**Business Math**

Ignacio obtains a loan of $9,500, at 8.75% interest, for months. Find the amount of simple interest. (Round to the nearest cent) $598.78 $658.07 $701.36 $825.55 The answer I got was $658.07, is that right?
*July 6, 2013 by Tee*

**Math please check answer**

1. =SUM(A14,A8) 2. =C8+ 15 3. PMT function {PMT(D4D12,E4,-C4)} What will each of the above formulas do please see if I have the correct answer using excel or another spreadsheet document. 1. Is the sum between the two blocks listed the more blocks the more #'s to the equation...
*June 4, 2008 by Shila*

**Survey of mathematics**

On January 5, Ebony Davis borrowed $6,500 on a simple interest loan from a lending institution to finance her catering business. She borrows the money at a rate of 8.5% with a term ending on December 9. a. Calculate Ebony's interest on the simple interest loan if she waits ...
*June 20, 2014 by Jennifer*

**Urgent! Help please!**

On January 5, Ebony Davis borrowed $6,500 on a simple interest loan from a lending institution to finance her catering business. She borrows the money at a rate of 8.5% with a term ending on December 9. a. Calculate Ebony's interest on the simple interest loan if she waits ...
*June 20, 2014 by Jennifer*

**Survey of Mathematics**

On January 5, Ebony Davis borrowed $6,500 on a simple interest loan from a lending institution to finance her catering business. She borrows the money at a rate of 8.5% with a term ending on December 9. a. Calculate Ebony's interest on the simple interest loan if she waits ...
*June 22, 2014 by Jennifer*

**math**

Sonja needs to borrow $2,251 to pay for her college classes. Sallie Mae is offering her a 4.5% simple interest loan with an interest charge of $405.18 over the life of the loan. How many years is Sallie Mae giving her to pay back the loan with interest?
*February 25, 2013 by kelly*

**algebra**

Andrew has a four-year college loan for $20,000. The lender charges a simple interest rate of 5 percent. How much interest will he have to pay? simple interest = P × r × t
*March 4, 2013 by Anonymous*

**Word problem**

suppose you deposit $350 in a bank account that pays 6% annual simple interest. Find the interest earned in 4 months and in 1 year. 350 x 0.06 = interest in 1 yr. 4/12 of that is the interest in 4 months.
*July 27, 2007 by Karen*

**VBA Programming**

I'm trying to create a macro that asks for a loan between 1 dollar and 5 million, and returns different interest rates based on the amount of the loan. For some reason when I type in different loan amounts it automatically makes my rate ".1", when it should be say ".08", or "....
*June 28, 2013 by Matt*

**math (SIMPLE INTEREST)**

1.find a)simple interest earned b) simple amount for the following investment i)RM20000 for 4 years 6 months at 11% per annum
*April 22, 2014 by fizz*

**Math**

Mr. Nielson wants to borrow $1,000 for 2 years. He is given the choice of i) simple interest at 12%, or ii) a loan at 10% compounded monthly. Which loan results in less interest due ? b) What interest rate compounded quarterly will give an effective interest rate of 7% ?
*September 15, 2011 by Nieda*

**Maths**

Solve the problem. Assume that simple interest is being calculated. Round your answer to the nearest cent. Susie borrowed $7500. from a bank for 18 months with interest of 5% per year. Find the total amount she repaid on the due date of the loan. (Use: I=prt)
*February 28, 2008 by Matt*

**Math**

1. When their child was born, Elaine and Mike Porter deposited $5,000 in a savings account. The money ears interest at 6 percent compounded quarterly. How much will the account be worth when their child celebrates her second birthday? My answer= $5,632.46 2. Asia Desai ...
*March 24, 2015 by kk*

**Math - Pre Algebra**

Simple and Compound Interest Find the simple interest. principal= $870 interest rate= 6% time= 9 months Please help me I need the answer for tommorow.
*April 13, 2009 by Tanisha*

**math**

In December Corey took out a 1000-dollar loan with monthly interest rate 0.7 percent. In order to pay back the loan, Corey has been paying $87.17 a month since January. Explain why the sequence defined recursively x0=1000 and xn=1.007(xn-1) for positive n describes the balance...
*November 8, 2011 by Danielle*

**math**

Liam borrowed a sum of money from his parents as an interest free loan to help him pay college. We know that 6 months into the loan,owned 17,900 and that 15 months into into the loan he owned 14,750. 1. What is the original amount? 2. How long will it take to pay back? Please ...
*December 10, 2012 by yaneth*

**Math**

Find the finance charge (interest) due on a 9-month loan of $2,400 at a simple interest rate of 10%.(Use the formula for simple interest: Interest Earned = Principal×Rate×Time) (a)$ 18.00 (b)$ 1,800 (c)$ 180 (d)$ 1.80 (e)$ 18 I put in 2400*9*.10 and it equals 2160 so i don't ...
*September 18, 2011 by Gregg*

**Business Math**

October 17, I borrowed $6,000.00 at a rate of 4%. I have to repay the loan in 7 months. What is the simple interest and the total amount owed upon maturity?
*January 28, 2011 by Jackie*

**computer science**

When $1000 is deposit at 5% simple interest, the amount grows by $50 each year. When money is invested at 5% compound interest, then the amount at the end of each year is 1.05 times the amount at the beginning of the year. Write a program to display the amounts for 10 years ...
*March 27, 2011 by James Starr*

**Math**

The present value of the money in your savings acct is $420, and you're receiving 3% annual interest compounded monthly. What is the future value in 2 months?
*May 27, 2012 by melissa*

**Per Calculus**

The Washington family can purchase a new home with an 80,000 loan at 6% interest. If the term of the loan is set up to be 20yrs (240 months), what will be there monthly payment toward this loan. Use formula n=-In(1-A(r/12)I P) ______________ In(1 + r/12)
*May 24, 2013 by Terror*

**math**

john has a loan but doesn't begin to repay his loan for 11 months, at a rate of $500 every month of four month. the interest rate is 8% compounded monthly determin the size of the loan using the following 2 steps 1. calculate the present value, pv1 of annuity payment at the ...
*August 9, 2012 by jule*

**math please explian**

I know how to do simple interest on a loan but how would I figure compound interest on a loan $8,000 invested for one year at 6% compounded quarterly ? with rounded to the nearest dollar thanks in advance for explaining :)
*January 7, 2008 by keleb*

**math**

The present value of the money in your savings account is $420, and you're receiving 3% annual interest compounded monthly. What is the future value in two months?
*November 15, 2010 by Anonymous*

**Math**

The present value of the money in your savings account is $420, and you're receiving 3% annual interest compounded monthly. What is the future value in two months?
*May 4, 2012 by Paige*

**math**

Lin borrowed $950 for a new laptop. She will pay $25.80 each month for the next 48 months. Find the simple interest rate for her loan. (Rounded to the nearest 10th of a percent.)
*January 22, 2015 by Dana*

**Finance**

Determine the amount of each payment to be made to a sinking fund in order that enough money will be available to pay off the following loan. $29,000 loan, money earns 12% compounded annually, 42 months. I tired doing this using the future value of an ordinary annuity formula...
*February 18, 2010 by Ben*

**Algebra 1**

A finance company offers cheaper interest rates if you borrow a larger sum of money for shorter time period. A borrower is offered $7000 at 12% or $10080 at 10%. If the tome for the lager loan is 6 months less but the total interest is the total interest is the same, find the ...
*November 9, 2010 by Lola*

**8th grade**

Ms Pecho currently owes $637.50 in simple interest on a loan of $2500 at an annual interest rate of 17%. How long has she had the loan. This is his problem and I have no clue how to help him but I do know the answer he came up with is 18.77. That seems wrong to me.
*December 31, 2009 by Rose*

**algebra**

To buy both a new car and a new house, Tina sought two loans totalling $260,394. The simple interest rate on the first loan was 3.7%, while the simple interest rate on the second loan was 8.8%. At the end of the first year, Tina paid a combined interest payment of $22,611.73. ...
*February 20, 2011 by Jack*

**algebra**

To buy both a new car and a new house, Tina sought two loans totalling $319,531. The simple interest rate on the first loan was 2.7%, while the simple interest rate on the second loan was 2.6%. At the end of the first year, Tina paid a combined interest payment of $8334.15. ...
*February 22, 2011 by Joel*

**Intermediate Algebra**

To buy both a new car and a new house, Tina sought two loans totalling $78,825. The simple interest rate on the first loan was 0.2%, while the simple interest rate on the second loan was 5.0%. At the end of the first year, Tina paid a combined interest payment of $2817.23. ...
*July 28, 2011 by Kimberly*

**Math**

To buy both a new car and a new house, Tina sought two loans totalling $319.531. The simple interest rate on the first loan was 2.7%, while the simple interest rate on the second loan was 2.6%. At the end of the first year, Tina paid a combined interest payment of $8334.15. ...
*January 11, 2012 by Chrissy*

**Business Math**

1,500 personal loan, bank is going to charge a fee of 2% of loan amount as well as take out the interest upfront. The bank is offering 15% APR for six months. Calculate the effective interest rate.
*November 26, 2011 by Anonymous*

**Loan **

Borrower Brown borrowed $8,000 from the bank. He will pay 6% simple interest on the remaining balance of the loan in semi-annual equal PRINCIPAL payments for four years. How much total interest will Borrower Brown pay over the life of his loan?
*October 29, 2012 by Renee*

**business Math**

You were offered the opportunity to purchase either a simple interest note or a simple discount note with the following terms: $33,353 at 7% for 18 months. a. Calculate the effective interest rate. (Do not round intermediate calculations. Round your final answer to the ...
*April 7, 2014 by marie*

**Math**

Ms. Pecho currently owes $637.50 in simple interest on a loan of $2500 at an annual interest rate of 17%. How long has she had the loan? How do you figure out this problem? I am not merely looking for an answer, I would like to know how to do it to know if he is doing it ...
*December 31, 2009 by Rose*

**math**

Calculate the monthly payment necessary to retire a 3-year simple-interest loan of $12,000 if the simple interest rate charged is 9%. Round your answer to the nearest cent.
*July 6, 2012 by ann*

**Compound Interest**

Payments of $1,800 and $2,400 were made on a $10,000 variable-rate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semi-annually for teh first two years and 10.74% compounded monthy thereafter. What amount was owed on the loan after ...
*August 2, 2009 by Sat*

**compund interest**

Payments of $1800 and $2400 weere made on a $10,000 variable-rate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semi-annually for the first two years and 10.74% compounded monthly thereafter. What amount was owed on the loan after ...
*August 5, 2009 by thara*

**Algebra**

Wanda took out a personal loan for $16,000 at 9% simple interest. How much interest will she pay after 5 years? Suppose she pays off the loan in 3 years instead of 5 years. How much money will she save in interest?
*September 24, 2014 by Sara*

**math**

A $1500 investments has an annual simple interest rate of 7%. Find the simple interest earned on the investment after 18 months.
*May 23, 2012 by miss c*

**eco**

Suppose a person pays $80 of annual interest on a loan that has a 5 percent annual interest rate. The loan amount is: A. $400. B. $1,600. C. $160. D. $85. 10. Suppose a loan customer is considering two alternative $22,000 loans. Loan 1 requires payment of $1,100 of interest ...
*May 26, 2011 by matt*

**Plz Hellp**

Wanda took out a personal loan for $16,000 at 9% simple interest. How much interest will she pay after 5 years? Suppose she pays off the loan in 3 years instead of 5 years. How much money will she save in interest?
*September 24, 2014 by Sara*

**math**

joe borrows $4,000, the loan is for 18 months at 5% interest, whats the total amount due on the loan?
*March 8, 2011 by brittney*

**Math**

$10,000.00 loan at 8% to be paid in full in 88 months. How much interest would be due at the payoff of the loan?
*March 30, 2012 by Susan*

**pre-algebra**

thomas borrowed $4800 to buy a new car. he will be paying $96 each month for the next 60 months. find the simple interest rate for his car loan.
*March 15, 2012 by Cassandra*

**business math**

you take out a loan for $20,000 simple interest loan at 4% on August 21 and in 45 days you pay off $8,000 of the loan. What is your new principal?
*August 23, 2013 by Joyce*

**math -interest **

Find the monthly payment for the loan. (Round your answer to the nearest cent.) $400 loan for 12 months at 14%
*June 10, 2014 by Silvia Kay*

**math**

A man asks for a loan for $5,000 for 14 days. He receives the loan plus $45 in interest. What annual interest did the man pay. How much would the man need to repay at the end of two months if he borrowed $5ooo with the same rules and the same annual interest ra
*November 17, 2010 by geri*

**math**

The present value of the money in your savings account is $420, andyou're receiving 3% annual interest compounded monthly. what is the future value in two months? a.$432.60 b. $426 c. $422.10 d. $424.11 You've just received anorder of silk flower arrangements from your ...
*September 30, 2012 by Marcelo*

**Math**

Find the annual percentage rate on a loan of $1,500 for 18 months if the loan requires $190 interest and is repaid monthly.
*July 6, 2014 by Chol*

**Finance**

You buy some furniture for $600. The department store offers you “no interest for 8 months” after which you can pay the $600 in one lump sum. To take advantage of this deal, the store charges a $25 service fee, which is to be paid today. What rate of simple interest is the ...
*September 21, 2014 by Mella*

**math**

TJ had a car loan for $5800. Over the course of the loan, he paid a total of $1508 in interest at a rate of 6.5%. Over how many months did TJ pay off the car loan?
*January 22, 2015 by Dana*

**Math Interest Question**

A loan of $8,532 was repaid at the end of 12 months. What size repayment check (principal and interest) was written, if a 9.5% annual rate of interest was charged?
*January 24, 2014 by Maxie*

**math**

Megan took out a loan for 1500.00. The bank is going to charge her a fee of2% of her loan amount as well as take out the interest upfront. The bank is offering her 15% APR for six months. Calculate the effective interest rate.
*October 30, 2011 by Anonymous*

**Math**

I take out a loan for $10,000.00 and the interest rate is 6.3% APR. If I pay this loan back at $300.00 per month, how much interest will I be charged on top of this per month for the first 3 months? Please show the equation used.
*September 5, 2014 by Dinny*

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