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Пікірлер: 24
@8nnies2 жыл бұрын
when you ask for a loan, you're basically borrowing money and you'll have to repay it back later; the amount of money borrowed is called the principle
@jaybrown44445 ай бұрын
5% of 5,000 is $250 though, not $150 as the video shows. So it would be $250 x 3 (for the three years) = $750. The total amount you will be paying is $5, 750
@dreamff87544 ай бұрын
😮correct 🎉
@antonioortiz4584 жыл бұрын
*Principal
@retrosrobloxreviews95643 жыл бұрын
No it’s correctly spelled.
@antonioortiz4583 жыл бұрын
@@retrosrobloxreviews9564 it's really not though. It's spelled "principal." Look it up.
@jobayerkhan7987 ай бұрын
hey, you know the music played in this video, does anyone know the name of the music/tune because it's so lovely and very soothing to hear and I wanna listen to it in different variations only idk the name of this music
@hfzxl13 жыл бұрын
payment per month is $150, 3 year should be $150 * 12 * 3 = $5400, how did you get $5,395 ?
@HenryTheBoilermaker3rdYear2 ай бұрын
Yeah 5% interest does not equal to 395 does it.
@HabimanaSeleman-qh2uwАй бұрын
Habiman
@malachiwilliams2129Ай бұрын
5% of $5,000 is $250
@daisystephanie53Ай бұрын
@@malachiwilliams2129 That's what I got as well , 250 😅 🤷♀️
@user-rm4hk5ci5g Жыл бұрын
It was very instructive
@3nxJapz2 ай бұрын
Please I want you to calculate this problem for me. A man took a personal loan of k3500 over 1 year from the bank to buy furniture.The bank calculate the fortnightly repayment of k145. The application fee is k100. How much in total will he pay the bank and what total interest has been charged?
@adityaprakash9530Ай бұрын
why to pay 150 dollars monthly? EMI is about 138.88 dollars.......with interest rate of 6.94 dollars monthly
@kuleranganalukogo58192 жыл бұрын
3 year loan of $5,000, interest rate=5%, 150+ 150+150=450
@p10rambo Жыл бұрын
5% is 250, how come 450?
@kingosports92202 жыл бұрын
How did you get that its 5400
@limya_3 жыл бұрын
Thankyou very helpful
@Umra8678 ай бұрын
How 150 came?
@aneesulhanif42752 жыл бұрын
Hi sir Anees Pakistan
@selamhadra-pz7xj2 ай бұрын
10q
@Jaypatel-yl1gk27 күн бұрын
ChatGPT Calculation for our problem : The calculation of loan payments over a period with a given interest rate isn't straightforward as simply adding a flat percentage. Here’s a detailed breakdown: ### Correct Calculation Using Amortization Formula When you take a loan, the interest is typically compounded, meaning it's calculated on the remaining principal balance over time. Using the given details: 1. **Principal Amount (P):** $5000 2. **Annual Interest Rate:** 5% 3. **Loan Term:** 3 years ### Step-by-Step Calculation 1. **Monthly Interest Rate (r):** \[ r = \frac{5\%}{12} = 0.05 / 12 = 0.004167 \] 2. **Total Number of Payments (n):** \[ n = 3 \times 12 = 36 \] 3. **Monthly Payment Formula:** \[ M = \frac{P \cdot r \cdot (1 + r)^n}{(1 + r)^n - 1} \] Plugging in the values: \[ M = \frac{5000 \cdot 0.004167 \cdot (1 + 0.004167)^{36}}{(1 + 0.004167)^{36} - 1} \] ### Monthly Payment Calculation \[ M \approx 149.85 \] 4. **Total Amount Paid Over 3 Years:** \[ \text{Total Amount Paid} = M \times n \] \[ \text{Total Amount Paid} = 149.85 \times 36 \approx 5394.60 \] ### Conclusion So, the total amount you would pay over the 3 years is approximately $5394.60, not $5750. This figure represents the principal and the interest calculated and compounded over the term of the loan.