2006-10-23 06:32:21 · 14 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
27.7 Years if the interest rate is 0%
2006-10-23 06:35:38 · answer #1 · answered by cruz734 2 · 0⤊ 0⤋
Is there any interest being attached to the principal? If not
100,000/300 equals the number of months/12 equals the number of years.
You do the math
2006-10-23 06:40:30 · answer #2 · answered by icatfishman 2 · 0⤊ 0⤋
If there's no interest charge on the loan, then the answer is 100000/300/12 years = 27.78 years. But there must be an interest charge.
2006-10-23 06:36:30 · answer #3 · answered by JJ 7 · 0⤊ 0⤋
about 28 years
2006-10-23 06:42:23 · answer #4 · answered by Maria I 1 · 0⤊ 0⤋
one hundred thousand divided by three hundred for the # of payments. That number divided by 12 for # of years.
2006-10-23 06:36:22 · answer #5 · answered by wrf3k 5 · 0⤊ 0⤋
You can't answer that without the interest rate. Assuming simple interest, the equation would be ((1 + interest rate) x Principal) / 300.
2006-10-23 06:59:15 · answer #6 · answered by itsnotarealname 4 · 0⤊ 0⤋
100000/300/12=27 years & 9 mos with no interest. if the interest is >=3.6%, you would never pay it off.
2006-10-23 06:42:38 · answer #7 · answered by yupchagee 7 · 0⤊ 0⤋
You must tell us the interest rate as well. The most important item.
Unless you have a sugar daddy who lent you the money interest free.
2006-10-23 06:36:12 · answer #8 · answered by Anonymous · 0⤊ 0⤋
300 * 12 = $3600 / year
$100 000 / $3600 = 27.78
27.78 years
2006-10-23 06:36:09 · answer #9 · answered by icez 4 · 0⤊ 0⤋
about 28 years. and that is without interest.
2006-10-23 06:35:52 · answer #10 · answered by Sean T 2 · 0⤊ 0⤋