If I bought a small amount of interest income last year, can it pay for the entire year?

A couple of years ago I sold a few thousand to pay off the loan on my car. At the time I was saving at an excellent rate (0%) but decided to do the math and figured out something I could have done years earlier.

What’s the interest ratio in a year?

The interest rate on a loan is calculated by dividing the principal by the interest earned. A small amount with no interest earned over 2.0% would have been $6,000. But, if you bought a little less than a third of a car in 2009 ($6,000 + $200 for the interest), you sold it for $6,000+$500 for the interest.

After my little experiment, I can say that I could have had a little more by buying the car in 2009 and selling it in 2013. What the math say is that my small loan to purchase a car would have cost me $4,500 (after taking out another $150 for the interest) . That’s a pretty good return on investment (ROI), and is a good place to use that 2% figure.

Now I’m thinking a whole lot if someone wants to buy a 3,000 mile car for example. How much would the interest go to for the car in a year?

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