If you have a loan, you can take the interest rate and multiply it by the loan price and it will give you the interest rate you have to pay plus the original amount of the loan. Subsidized and unsubsidized loans are federal student loans for eligible students to help cover the cost of their education. A credit union provides financial services for its members and a loan has to be repaid along with interest. Simple interest expense is calculated using the formula e = (principal)(rate)(time), and in cases where the interest compounds more than once per year, the formula a = p(1 + r/n)nt is used.
|