200 intrest
$98.10 in interest is earned in the following year.Year One:$1000 x 0.09 = $90$1000 + $90 = $1090Year Two:$1090 x 0.09 = $98.10
The "13 percent rate" is the equivalent annual rate. So the interest will be 130.
60,000
75
14
$74.90
$98.10 in interest is earned in the following year.Year One:$1000 x 0.09 = $90$1000 + $90 = $1090Year Two:$1090 x 0.09 = $98.10
The "13 percent rate" is the equivalent annual rate. So the interest will be 130.
1000+2.50 percent
60,000
62
75
14
The annual interest is 150 Add this to your originial investment and you have 1,150
Interest is a certain amount of money added on top of what you already have. For example: If you had £1000 in your bank account, and the bank added 5% interest, you would gain £50 free from the bank for keeping that £1000 in your bank.
Interest is a certain amount of money added on top of what you already have. For example: If you had £1000 in your bank account, and the bank added 5% interest, you would gain £50 free from the bank for keeping that £1000 in your bank.
Simple interest = 1000 * 5/100 * 3 = 150