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How many years would it take for 55000 pounds to receive 39600 pounds simple interest at a rate of twelve percent pa?
Wiki User
∙ 10y ago
Each year you would receive 0.12 x 55,000 = 6,600 pounds simple interest.
With no compounding 39,600 / 6,600 = 6 years
Wiki User
∙ 10y ago
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Eric earns 6.5 percent simple interest annually on his savings account he has a beginning balance of 459.32 How much interest does he receive?
29.86
Calculate the simple interest you would receive in one year on a savings account that earns 5 percent annual interest What if your beginning balance is 255.19?
12.76
Calculate the simple interest you would receive in five years on a savings account that earns 7.5 percent annual interest What if your beginning balance is 1236.59?
463.72
How much interest Alfred will you receive if Alfred invests 4000 at 5 percent simple interest for 5 years?
40 x 5 x 5 = 1000
Alfred wants to invest 4000 at 6 percent simple interest rate for 5 years How much interest will he receive?
he will receive $1,200ANSWER:Yes $1,200 is the correct answer but the logic behind it is that, it is using simple interest term means here 6 is representing interest for a year, Inorder to calculate the whole interest we will multiply 6 by 5 years we will get 30%.The total interest he will get $4,000 x 30% = $1,200.
Cindy has a savings account with National Bank She earns 4.5 percent annual simple interest on 1239.12 What amount will she receive in interest in one year?
$55.76 = $1239.12 x 0.045
What is the interest on 3000 at 12 percent?
Simple interest would be 360
What is 13 percent interest on 8000?
Simple interest would be 1040
Would you rather receive simple interest at the rate of 10 percent per year or 1 percent per month Explain?
1% because in a year itll be 12% instead of 10%
What is the interest on 600 at 12 percent for 2 years?
Simple interest: 144Compound interest: 152.64
What is the simple interest on 642 for 7 years at 11 percent per annum?
$494.34 Interest= principal amount * time* simple interest %
What is the simple interest of a loan for 1ooo with 5 percent interest after 3 years?
Simple interest = 1000 * 5/100 * 3 = 150
