what is the simple intrest on a $325 loan a 7% intrest for 1 year?

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2007-02-23 02:20:39 · 3 answers · asked by okie b 1 in Business & Finance ➔ Credit

Assuming you pay 12 equal installments to pay the loan off:

Monthly Payment: $28.12
Total Payments: $337.45
Total Interest: $12.45

2007-02-23 02:29:50 · answer #1 · answered by TheBigSquareHead 4 · 0⤊ 0⤋

$22.75 only assuming there is no front end fee and miscellaneous charges that some creditors charge.

2007-02-23 10:30:12 · answer #2 · answered by Gad S 1 · 0⤊ 0⤋

$22.75

2007-02-23 10:26:02 · answer #3 · answered by Mathivanan T 2 · 0⤊ 0⤋