2006-12-21 13:01:20 · 4 answers · asked by Jennifer N 3 in Business & Finance ➔ Renting & Real Estate
OK you take the:
Premium X Rate X Time = annual Interest
Time is in years so 1 if it is less then you go by fractions
so the answer to your question is:
$30000 X 7.24% X 1 = $2172 (annual interest)
so all together you have $32172
2006-12-21 13:14:45 · answer #1 · answered by Psycho_Steven 1 · 0⤊ 0⤋
Interest rate or payment? If you are looking to calculate a payment, its going to depend on the term of the loan. This calculator is set up to calculate payments...I set it up assuming a 30 year term (home loan), but you can change the term to suit what you need.
http://www.bankrate.com/brm/auto-loan-calculator.asp?unroundedPayment=204.44944153672884&loanAmount=30000.00&nrOfYears=30.00&nrOfMonths=360&interestRate=7.24&startMonth=11&startDay=21&startYear=2006&monthlyPayment=204.45&monthlyAdditional=0&yearlyAdditional=0&yearlyAdditionalMonth=11&oneAdditional=0&oneAdditionalMonth=11&oneAdditionalYear=2006&paidOffDate=Dec+21%2C+2036&Submit.x=29&Submit.y=8
If you are trying to figure out how much interest per year, it is 7.24% * $30,000 = $2,176. That number will vary a little depending on how it is compounded.
2006-12-21 13:09:44 · answer #2 · answered by Alan 3 · 0⤊ 0⤋
The interest rate is 7.240%. If you mean what is the interest then it is just the result of 30,000 x 0.0724. I still think you wanted to know something else, but that is the answer to YOUR question.
2006-12-21 13:06:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I agree with the person that said to go to www.bankrate.com it has calculators for both home and auto, and since cars can run up to that price, not sure which you are referring to. Good luck!
2006-12-21 15:06:12 · answer #4 · answered by colleend01 3 · 0⤊ 0⤋
Multiply 30,000 by .07240 to get your answer.
2006-12-21 13:10:50 · answer #5 · answered by Anonymous · 0⤊ 0⤋