He must pay back 20268.32 of amount after borrowing 16000 for 8 years at the interest rate of 3% for one year.
<h3>How to calculate loan amount ?</h3>
- The term "Loan Amount" refers to the sum of money we currently owe you for this mortgage. The loan amount may also include other fees, interest , defaulted payments, interest on defaulted payments, principal, and interest on unpaid principal.
- The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rate. The total interest on a loaned or borrowed sum is determined by the principal amount.
Amount he borrowed = 16000
No. of years = 8 years
Rate of interest = 3%
Calculate full amount (A) :
Equation for A = P(1 + r/n)^(nt)
A = 16000(1 + .03)^8
A = 20268.32
He need to pay 20268.32 after 8 years.
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Answer:
you have to ask a question if you don't see what you need
Explanation:
Answer:
Measuring success based on a customer's click of an ad/email/e.t.c and conversion is called conversion rate
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This is an online marketing metric that tracks how successful an ad/email was
viz-a-viz the desired result of getting customers to buy a product or service.
It is calculated as follows:
Number of people who completed an action such as purchased divided total ads clicked/emails delivered.
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