60 x .0739 x 4
Multiply those together and tada
Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.
60 x 7.39 x 4 ie 1773.60
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
The formula for simple interest is Interest = Principal x Rate x Time ÷ 100 As the rate is an annual rate and the period is 1 year then Interest = Principal x 4.5/100. The balance at the year end = Principal + Interest = Principal x 104.5/100.
500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.
1,773.60
Simple Interest
$494.34 Interest= principal amount * time* simple interest %
Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.
60 x 7.39 x 4 ie 1773.60
I
35
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
Simple interest is determined by multiplying the interest rate by the principal of the number of periods. Where, P is the loan and the amount is usually expressed as an annualized percentage.
1282.5
The formula for simple interest is Interest = Principal x Rate x Time ÷ 100 As the rate is an annual rate and the period is 1 year then Interest = Principal x 4.5/100. The balance at the year end = Principal + Interest = Principal x 104.5/100.
500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.