The table shows how much interest could be added to a R1,000 loan at monthly rates of 3% and 5%, assuming simple proportional interest and no additional fees.
|
Loan term |
3% per month |
5% per month |
|
10 days |
R10.00 |
R16.67 |
|
30 days |
R30.00 |
R50.00 |
|
60 days |
R60.00 |
R100.00 |
|
90 days |
R90.00 |
R150.00 |