Suriin ang IDNStudy.com para sa malinaw at detalyadong mga sagot. Sumali sa aming platform upang makatanggap ng mabilis at eksaktong tugon mula sa mga propesyonal sa iba't ibang larangan.

how much is the effective interest of 500,000.00 which is to be paid 10,450 monthly in five years. Given Principal is 500,000.00; Total interest in 5 years is 124,300.00

Sagot :

Given Principal: 500, 000 Interest: 124, 300 Time: 5 years Rate:? Interest (I)=PRINCIPAL(P)*RATE(r)*TIME(t) since the unknown is rate We will formulate the formula r=I/ Pr And substitutes the formula r=124, 300/500, 000(5) r=1.24*100 % r=124%