2.25 percent apex
It was 10200.
He earned just over 0.21 per week, so it would be rounded to 0.21 per week.
Simple interest is interest paid on the original principle only, Compound interest is the interest earned not only on the original principal, but also on all interests earned previously.
true
compound
3.25%
The "13 percent rate" is the equivalent annual rate. So the interest will be 130.
A $5000 investment at an annual simple interest rate of 4.4% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?
6 ÷ 100 × 20000 = 1200
2.25
The annual (or annualised) interest rate.
Assuming this 100 billion dollars is deposited in a savings account that earns an interest of 1% per year, the interest earned in a day would be $ 2739726. Assuming this 100 billion dollars is deposited in a Certificate of Deposit that earns around 2.5% interest per year, the interest earned in a day would be $6849315
You invested $15,000 in two accounts paying 6% and 8% annual interest, respectively.
Deposited amount (P) = 10000 Rate of Interest (R) = ? No. of Years (N) = 12 Interest Earned Formula = P * N * R / 100 Modifying the formula we get: R = Interest Earned * 100 / P * N = (6600 * 100) / (10000 * 12) = 660000/120000 = 5.5% They earned an interest of 5.5% per year for 12 years.
It was 10200.
Interest for 1st year = $6 Principal after 1 year = $206 Interest for 2nd year = $6.18 Principal after 2 year = $212.18 Total Interest earned after 2 years = $12.18
963