How Matt wants to take out a simple interest loan on a car priced at $14,289. The interest rate is 3.5% for 5 years. How much will he pay in interest during the term of the loan?
Follow this formula to get the answer :Interest = Principal × Rate × Time he will pay $2500.58
Answered
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When are interest rates going to lower?
Well for a 30 year fixed home loan the interest rates are at ...
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Your monthly payments on a $18,000 loan with an 8% interest r...
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Which has the lowest interest rate Payday loan, Perkins loan, or private loan?
A private loan, like a loan from family or friends should hav...
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What is the best interest rate I can get to buy a new home?
To find the best interest rate on a loan for a new home, you ...
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How do increased interest rates affect the balance of trade?
When you increase the rates that charges more money and there...
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What is a higher interest rate is usually a trade off for?
On an individual level, the trade-off for a higher interest r...
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What is the relationship between interest rates and demand for money?
Demand for money is dependent on price of money- the interest...
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What's the difference between APY and an interest rate?
(APY) annual percentage yield is the amount you earn on an in...
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Can you calculate the monthly interest rate on a credit card that charges 18% annual interest?
Look at your credit card statement and look at the APR. Take ...
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If the market rate is higher than the contract rate, the bond...
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How do increased interest rates affect the balance of trade?
When you increase the rates that charges more money and there...
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What is the monthly payment for a 30,000 dollar loan for 10 years at an interest rate of 6%?
If you take out a 30,000 loan at 6 percent for 10 years, your...
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What is the the average interest rate for a savings account?
Interest rates very based on initial deposit and term length ...
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Companies have very high interest rates. Thanks for using Cha...
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ING Direct has the best checking account. Interest earning, n...
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What is TD Bank's interest rate on savings accounts?
Interest rates will vary by state for TD Bank savings account...
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What is the interest rate the fed charges to commercial banks?
I checked many sources and couldn't actually find what intere...
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Companies have very high interest rates. Thanks for using Cha...
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What is an interest rate on a credit card?
Each credit card company has their own set interest rates. Wh...
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What is the best interest rate I can get to buy a new home?
To find the best interest rate on a loan for a new home, you ...
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How did federal reserve uses to change short term interest rates and long term interest rates?
The Federal Reserve federal funds rate in the United States h...
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What is the current interest rate of a Wachovia savings account?
It depends on what kind of savings account you have with them...
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What is the prime interest rate?
Your answer is 3.25% (July 6, 2011). Src: Wolfram|Alpha
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What is the interest rate the fed charges to commercial banks?
I checked many sources and couldn't actually find what intere...
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What is the interest rate on a standard Visa credit card?
Capital One's Standard Platinum credit card is for people wit...
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What is TD Bank's interest rate on savings accounts?
Interest rates will vary by state for TD Bank savings account...
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What is the interest rate charged by banks to borrow money from each other over night?
The interest rate charged on loans between banks is the overn...
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What is the interest rate for a car loan?
For a 48 month loan on a used car the average rate is 7.94%; ...
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What is their interest rate they charge for a savings account with Chase bank?
The interest rate for Chase savings accounts is 1.5%.
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What is the interest rate at Chase bank?
Interest rate for a Chase credit card could be as low as 12.9...
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