What is 9 percent interest rate on $120,000 for 6th months?

Question

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Answer 1

5400

Answer 2

Is this what you want to know:

Simple Loan Payment Calculator

Loan Term: .5 Years
Interest rate: 9.000%
Loan amount: $ 120,000.00
$ 20,528.27 a month

This will pay off $120,000 loan at 9% interest rate in 6 months.

Here's a calculator website for simple interest: http://www.mortgage-calc.com/mortgage/simple_results.php
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Or did you mean how much interest do you pay in 6 months on a $120000 balance at 9%?

Principal Balance * rate (gives you annual amount of interest) divided by 12 (interest per month) times number of months:

$120000 * .09 = $10800 / 12 = $900 * 6 - $5400...$5400 in 6 months time.

Answer 3

It's roughly 5400 depending on how the 9% is set up. If it is 9% APR then this would be in the ballpark, if not then it would be alot more. Hope this helps

Answer 4

Your monthly payment would be 20,528.27 specifics as follows
Payment ($) 20528.27 20528.27 20528.27 20528.27 20528.27 20528.27
Principal Paid ($) 19628.27 19775.48 19923.80 20073.23 20223.77 20375.45
Interest Paid ($) 900.00 752.79 604.47 455.04 304.49 152.82
Total Interest ($) 900.00 1652.79 2257.26 2712.30 3016.80 3169.61
Balance ($) 100371.73 80596.25 60672.45 40599.23 20375.45 0.00