What is the interest rate on the loan?
2007-01-26 16:33:51 · 10 answers · asked by jdeyo05 1 in Business & Finance ➔ Credit
Looks like 4% to me! Pretty good!
2007-01-26 16:43:34 · answer #1 · answered by Kathleen G 3 · 0⤊ 0⤋
A% X $20,000 = $800, A% = 4% Not knowing how the payments are made, the minimum interest rate is 4%. If the loan is paid interest and principal over the year then the rate would be a little larger.
2007-01-26 16:53:34 · answer #2 · answered by whatevit 5 · 0⤊ 0⤋
If the interest charged is for a year then the rate is
(800/20000)*100= 4%.
2007-01-26 16:47:26 · answer #3 · answered by sandy 2 · 0⤊ 0⤋
(800 / 20,000) = 0.04
0.04 * 100 = 4%
2007-01-26 16:42:11 · answer #4 · answered by EC 3 · 1⤊ 0⤋
4%
2007-01-26 16:47:45 · answer #5 · answered by mskyry 1 · 0⤊ 0⤋
if i do the math for you,you will not learn anything ..
so i suggest,do the math.
seems a cheap loan,where can i get one like that..?
lol
2007-01-26 16:44:48 · answer #6 · answered by byciclerabbit 3 · 0⤊ 0⤋
Now, you know that George would not charge Weezy that kind of interest rate......
2007-01-26 16:43:45 · answer #7 · answered by Hi Tech Redneck 2 · 0⤊ 0⤋
4.01% would be 799.80 in interest for 365 days on a $20,000.00 loan.
4.02% would be 801.80 in interest for 365 days on a $20,000.00 loan.
2007-01-30 13:51:46 · answer #8 · answered by Anonymous · 0⤊ 0⤋
is this a trick question? do we win a prize if we answer it right?
2007-01-28 17:07:47 · answer #9 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋
When I was in school I did my own homework.
2007-01-26 16:40:52 · answer #10 · answered by Anonymous · 2⤊ 2⤋