How do you calculate interest rates?

$2800 is invested for 5 years. The amount rises to $3173. What is the interest rate per year??


Is this simple or compound interest???? What is the compounding period if not simple interest?


If it is a compound interest problem, compounded annually the equation is

3173=2800(1+r)^5 where r is the interest rate.


I really don't know!

How do lenders calculate interest rates for home mortgage for married couples who have different FICO scores?

Especially interested in the case where there is a 50+ point differential in the FICO scores, and the spouse with the higher income has the lower score. And the combined income needs to be used as the basis for the loan amount asked for ...


Basically if you have two people on any mortgage loan, the bank or lender will take the lower of the two scores if it is any documentation over than Full doc.

If it's full doc, which means full tax returns, proving income for both borrowers,

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myAutoloan.com(R) Launches Interest Rate Widget to Answer the Most Asked FAQ
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