How much interest will be paid in 1 year for a loan of at
To determine the amount of interest paid on a loan in one year, you would need to know the principal amount of the loan and the annual interest rate. Additionally, any other factors such as the compounding frequency (e.g., monthly, quarterly) or any fees associated with the loan would need to be considered. Once you have this information, you can use the following formula to calculate the interest:
Interest = Principal x Interest Rate
For example, let's say the principal amount is $10,000 and the annual interest rate is 5%. To calculate the interest paid in one year, you would multiply the principal by the interest rate:
Interest = $10,000 x 0.05 = $500
So, $500 would be the amount of interest paid in one year for a loan of $10,000 with an annual interest rate of 5%.