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$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 analytical answer is 1130.34 but banks are not likely to round up when it comes to paying you money so I would say 1130.33
5% ($72.50) per year.
6 ÷ 100 × 20000 = 1200
That would depend on the original principal (the amount you borrowed) and how they compute interest.
$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
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%?
The analytical answer is 1130.34 but banks are not likely to round up when it comes to paying you money so I would say 1130.33
depends on your bank.
The formula to calculate interest is (p * n * r)/100 where P - Principal amount deposit - Rs. 20,000/- N - Number of years - 1 year R - Rate of interest - 8.5% So interest = Rs. 1,700/- per year.
An amortization table is a schedule which breaks down your monthly repayments into principal and interest. You can use it to determine how much principal interest you will pay during your mortgage term.
$2400
5% ($72.50) per year.
Depends on the principal!
842.40
6 ÷ 100 × 20000 = 1200