Math

Calculate the interest and the total amount.

a)a loan of \$1750 at a 4.8% for over five years.

b)an investment of 1500 at 3% per year over three years.

1. 👍 0
2. 👎 0
3. 👁 48
1. Interest = principal times rate times time

I = 1750 * 0.048 * 5

Do the second problem the same way.

1. 👍 0
2. 👎 0

Similar Questions

1. 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

asked by Matt on June 28, 2013
2. Math

Suppose you borrowed \$25,000 for a car at an APR of 8%, which you are paying off with monthly payments of \$510 for 5 years. a) What’s the loan principal? b) What’s the annual interest rate? c) How many payments do you make in

asked by Emilio on February 21, 2016
3. Maths

Calculate the total amount (loan and interest)to be paid on a loan of N1 000.00, borrowed for 2 years at a simple interest rate of 10% p.a.

asked by Funbi on November 23, 2016
4. Algebra

I am trying to work through this problem and am having trouble. Can someone tell me what the "w" stands for in the equation and walk me through the steps? Below is what I have so far. Suppose A is the amount borrowed, r is the

asked by Shelly on July 30, 2009
5. Algebra

I am trying to work through this problem and am having trouble. Can someone tell me what the "w" stands for in the equation and walk me through the steps? Below is what I have so far. Suppose A is the amount borrowed, r is the

asked by Shelly on July 30, 2009
6. 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

asked by John on May 31, 2014
7. MAth

1. John’s loans for his business total \$155,000. One of the loans is a SBA loan at 11% interest; the other loan is a Community Business Partner loan whose interest is 6.5% After one year the loans accumulated \$12,325 in

asked by Molly on July 29, 2011
8. math

what formula would i use to solve for this: Loan Interest A developer needs \$80,000 to buy land. He is able to borrow the money at 10% per year compunded quarterly. How much will the interest amount to if he pays off the loan in

asked by student on June 19, 2007
9. Mathematics

(a)A loan of 12 000 was borrowed from a bank at 14% per annum Calculate (i) The interest on the loan at the end of the first year (ii) The total amount owing at the end of the first year A repayment of \$ 7 800 was made at the

asked by INDIANA on May 24, 2012
10. math

The total amount of interest on a loan of \$6,000 for 150 days is \$210.50. Using the ordinary interest method, what is the rate of interest on this loan? Round to the nearest hundredth

asked by sue on October 25, 2013

More Similar Questions