asked 207k views
4 votes
How do you figure out an intrest rate for a loan.

1 Answer

4 votes

Answer:

Gather information like your principal loan amount, interest rate and total number of months or years that you'll be paying the loan.

Calculate your total interest by using this formula: Principal Loan Amount x Interest Rate x Time (number of years in term) = Interest.

answered
User Golldy
by
8.0k points

No related questions found

Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.