Login or Sign Up

Ask a New Question

How much interest would a person have to pay on a $3250 loan at 5% for three years??

I = PRT

I = 3240 * 0.05 * 3

I = ?

Similar Questions

Maya bought a car for $15,000. To pay for it, she took a bank add-on interest loan at an annual interest rate of 9%. The loan

Top answer: I = PRT I = 15,000 * 0.09 * 5 I = 6750 (15,000 + 6750) / 60 = _______ monthly payment Read more.
What is the simple interest due on a six-month loan of $3250 if the interest rate is 7.75%

Top answer: Assuming that it's an annual interest rate --- (3250 * 0.075) / 2 = ? Read more.
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

Top answer: To find the number of years that Sallie Mae is giving Sonja to pay back the loan with interest, we Read more.
This year (10 years after you first took out the loan), you check your loan balance. Only part of your payments have been going

Top answer: I am glad to see that the present value of the house of $180,000 has nothing to do with the rest of Read more.
Jeremiah is going to take out a $6,000 loan to buy a new jet ski. The bank he is taking the loan out will charge him a 6%

Top answer: To calculate the total interest paid for a loan compounded annually, you can use the formula: Total Read more.
Lisa takes a loan of $10,500 at a 9% simple interest rate for 7 years.How much interest will she pay after 3 years? How much

Top answer: The formula for simple interest is: I = PRT, where I is the interest, P is the principal (the amount Read more.
Lisa takes a loan of $10,500 at a 9% simple interest rate for 7 years.a. How much interest will she pay after 3 years? b. how

Top answer: Yes. A is right. Read more.
Lisa takes a loan of $10,500 at a 9% simple interest rate for 7 years. How much interest will she pay after 3 years? How much

Top answer: To calculate the interest for the first 3 years, we can use the formula: I = P * r * t where I is Read more.
15. Lisa takes a loan of $10,500 at a 9% simple interest rate for 7 years.a. How much interest will she pay after 3 years? b.

Top answer: Is it a for the first one. Thank You Read more.
Which person is likely to pay the highest interest rate on a loan?A. A person who makes the minimum payment on time each month.

Top answer: C. A person who is often late on paying their bill each month is likely to pay the highest interest Read more.