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how to find simple interest rate charged. Your monthly interest rate is 083. Divide your interest rate by the number of payments youll make that year.
Simple Interest Finding Principal Rate Or Time 141 27 Youtube from www.youtube.com
Enter the current interest rate charged by your credit card. Interest is paid on the total amount of money borrowed also known as the. Determine the total amount borrowed.
The daily interest accumulate on a daily basis on the amount of the loan from the date the interest charges begin until you repay the loan.
5000 with the interest rate of 10 per annum and the time period of 5 years. Use the correct time period for the. R R100 R Rate of Interest per year as a percent. 5 x 1000 x 4 200.
