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How do you find the percent paid on interest?
You would first find the percent (if it was 5% interest (for example) on a calculator you would do the amount then multiply by 5, then click the percent, by hand: you would multiply the amount you paid for then multiply by 0.05 then you would get the interest; simple math :D
Ms. Johnson invested 5980 with a finance company which pays 15.6 percent simple interest per year. Find the interest and the amount she is expected to receive after 6 years.?
The interest is 5980*1536/100*6 = 5597.28 And the total amount is 11577.28
What is the equation to find compound interest?
If the rate of annual interest is r% the period is n years and the amount invested is y Then the compound interest is y*(1+r/100)^n - y
Concering compound interest as the amount of principal increase the amount of interest paid decreases?
false
How do you calculate nominal interest rate?
Nominal interest, is the amount of interest on a loan or investment that does not take into account inflation; it's the amount of interest listed on the loan or bond.
How do you find the percent paid on interest?
You would first find the percent (if it was 5% interest (for example) on a calculator you would do the amount then multiply by 5, then click the percent, by hand: you would multiply the amount you paid for then multiply by 0.05 then you would get the interest; simple math :D
How do you find simple interest for 6 months?
Take the annual interest rate, divide it by 2 and multiply it by the amount you invested or borrowed.
Where can find the simple mathematical formula for calculating interest?
You need to know the principal amount, the rate and the time. Then a very simply formula for calculating interest is I = PRT where P is the principal amount, R is the interest rate and T is the period of time in years.
What is explicit interest?
Explicit interest is the amount of money that is paid on a loan. This means that it is a fixed amount of interest.
The amount of interest is determined by multiplying the amount in savings by the?
Annual interest rate
Ms. Johnson invested 5980 with a finance company which pays 15.6 percent simple interest per year. Find the interest and the amount she is expected to receive after 6 years.?
The interest is 5980*1536/100*6 = 5597.28 And the total amount is 11577.28
What is the equation to find compound interest?
If the rate of annual interest is r% the period is n years and the amount invested is y Then the compound interest is y*(1+r/100)^n - y
how personal loan interest is calculated?
Here's a simplified explanation of how it works: Principal Amount: The principal amount is the initial sum you borrow from the lender. This is the base amount upon which interest is calculated. Interest Rate: The lender specifies an annual interest rate as a percentage. For example, if you have a $10,000 personal loan with an annual interest rate of 5%, the interest rate is 0.05. Time Period: The time period refers to the duration for which you borrow the money, usually expressed in years but sometimes in months. For example, if you have a 3-year loan, the time period is 3. Interest Calculation: To calculate the interest for each period (usually monthly), you multiply the principal amount by the annual interest rate divided by the number of periods in a year. For example: Monthly Interest = (Principal Amount × Annual Interest Rate) / 12 Total Interest Paid: To find the total interest paid over the life of the loan, multiply the monthly interest by the total number of periods (months) in the loan term. For a 3-year loan, this would be 36 months. Total Interest = Monthly Interest × Total Number of Periods Total Repayment Amount: To determine the total amount you'll repay, add the principal amount to the total interest. Total Repayment Amount = Principal Amount + Total Interest
The beginning amount used to calculate interest?
it is the principal amount... i.e., the amount for which u have to calculate the interest Enjoy!! Kush
Concering compound interest as the amount of principal increase the amount of interest paid decreases?
false
How do you find the original investment when given the time and interest?
Not enough information. You also need to know: * The final amount of money * Whether simple or compound interest is known
How do you calculate nominal interest rate?
Nominal interest, is the amount of interest on a loan or investment that does not take into account inflation; it's the amount of interest listed on the loan or bond.
