Calculator the total amount to ₹50000 is borrowed for 3 year at 14% p.a
Answers
Answer:
The formula for calculating simple interest is:
(P x r x t) ÷ 100.
(P x r x t) ÷ (100 x 12)
FV = P x (1 + (r x t))How do you calculate interest on a 3 year note?
Calculating Simple Interest
If your loan is for a period of years, multiply the product of principal times interest by the number of years. Thus, if the example set forth above is for a three-year promissory note, multiply 750 by three years to equal 2,250 in total interest. MARK ME AS BRAINIEST PLS :)
Step-by-step explanation:
How do you calculate interest on borrowed money?
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Calculation
Divide your interest rate by the number of payments you'll make that year. ...
Multiply that number by your remaining loan balance to find out how much you'll pay in interest that month. ...
Subtract that interest from your fixed monthly payment to see how much in principal you will pay in the first month.