fr

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Populaire Word Problems >

What is the total interest to be paid on a 2 year \text{:3000} loan at 16% p.a. flat interest?

Solution

Wha t i s t h e t o t a l in t eres t t o b e p ai d o n a 2 ye a r :3000 l o an a t 16% p . a . f l a t in t eres t ?

Solution

Interest : 960

étapes des solutions

Translate the problem into an equation:

I = 3000 \cdot 0.16 \cdot 2

Simplifier

I = 3000 \cdot 0.16 \cdot 2

Interest : 960

Exemples populaires

An initial amount of \$3100 is invested in an account at an interest rate of 3.5% per year, compounded continuously. Assuming that no withdrawals are made, find the amount in the account after three years.Darren invests 4, 500 into an account that earns 5% annual interest. How much will be in the account after 10 years if the interest rate is compounded monthly?Janelle and some friends went out to dinner. The cost of the meal was 68.50. They left a 20% tip. What was the total cost of the dinner, including tip?Crypto gains 28% on 1580. How much was earned Suppose that \$2200 is borrowed for five years at an interest rate of 4.5% per year, compounded continuously. Find the amount owed, assuming no payments are made until the end.Do not round any intermediate computations, and round your answer to the nearest cent.