Repay, interest, loan
Ramchacha takes a loan amount of 240000 from a bank for constructing a house at the rate of simple interest of 12% per annum. After 1 yr. of taking the loan he rents the house at the rate of 5200 per month. Determine the number of years he would take to repay his loan along with the interest from the income of the house rent.
Correct answer:
Showing 1 comment:
Dr Math
Even in compound interest, problem has no solution:
a * q^n = 5200 * 12* (n-1)
240000 * 1.12^n = 5200 * 12* (n-1)
240000 * 1.12^n = 62400 * (n-1)
n doesnt exist
a * q^n = 5200 * 12* (n-1)
240000 * 1.12^n = 5200 * 12* (n-1)
240000 * 1.12^n = 62400 * (n-1)
n doesnt exist
3 years ago 3 Likes
Tips to related online calculators
Our percentage calculator will help you quickly calculate various typical tasks with percentages.
Do you want to convert time units like minutes to seconds?
Do you want to convert time units like minutes to seconds?
You need to know the following knowledge to solve this word math problem:
Related math problems and questions:
- Compound interest
Compound interest: Clara deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. Both money and interest remain deposited in the bank. How many CZK will be in the bank after 3 years? - Mortage hypo loan
The Jonáš family decided to buy an older apartment, which cost EUR 30,000. They found EUR 17,000 and took the loan with the bank for the remaining amount. What interest did they receive if they repay this amount for 15 years at EUR 120 per month? - Compound interest 3
After 8 years, what is the total amount of a compound interest investment of $25,000 at 3% interest, compounded quarterly? (interest is now dream - in the year 2019) - Bank
Paul put 10000 in the bank for 6 years. Calculate how much you will have in the bank if he not pick earned interest or change deposit conditions. The annual interest rate is 3.5%, and the tax on interest is 10%. - Compound interest 4
3600 dollars is placed in an account with an annual interest rate of 9%. How much will be in the account after 25 years, to the nearest cent? - Compound interest
Calculate time when the deposit in the bank with interest 2.5% p.a. doubles. - Deposit
If you deposit 719 euros at the beginning of each year, how much money we have at 1.3% (compound) interest after 9 years? - If you 3
If you deposit $4500 at 5% annual interest compound quarterly, how much money will be in the account after 10 years? - Bank deposit
Ms Jana after the withdraw amount of 2,500 euros after year saving in bank. What was her deposit if the interest rate was 2.5% p.a.. - The deposit
Deposit has been placed for one year at an annual rate of 4.5%. After the added interst amount rose to € 2,612.5. Determine initial deposit. - Rate or interest
At what rate percent will Rs.2000 amount to Rs.2315.25 in 3 years at compound interest? - Investment
1000$ is invested at 10% compound interest. What factor is the capital multiplied by each year? How much will be there after n=12 years? - Deposit 3
After a year, Martin had on bank account € 2028. What was the interest rate when the initial deposit was € 1879? - Future value
Suppose you invested $1000 per quarter over a 15 years period. If money earns an anual rate of 6.5% compounded quarterly, how much would be available at the end of the time period? How much is the interest earn? - Millionaire
Mr. Smith have gone withdraw from bank saving interest € 1,500. How big was his initial deposit if the annual interest rate is 1.5%? - Mr. Vojta
Mr. Vojta put in the bank 35000 Kč. After a year bank, he credited with an interest rate of 2% of the deposit amount. How then will Mr. Vojta in the bank? - A man 2
A man divides $10,000 into two investments, one at 10% and the other at 30%. Find how much is invested at each rate so that the two investments produce the same income annually.
