If you borrow 100,00.00 from a bank at 5% interest for 3 months how much will they charge you?
If the interest is per month the total interest you would be charged would be 10000*0.05=500 per month500*3= 1500 (in total)If the interest is per year (per annum), and you pay the bank back after three months, the interest would be:10000*0.05=500 500*0.25 (quarter of the year)=125.If the 5% interest is simply after the three months, the total you would pay in interest would be 500. Hope this helps
If it's $100,000, then it would be $1,250.
1500,hope this is helpful
$33,611.50 per month if its 5% per month interest
Just ask the guy giving you the loan?