It is 80 currency units.
70 x 8 x 3/4 ie 420
Kate invested 4500.
Rate of interest.
$2400
Simple interest = 700*5/100*2 = 70Simple interest = 700*5/100*2 = 70Simple interest = 700*5/100*2 = 70Simple interest = 700*5/100*2 = 70
2.25
The annual (or annualised) interest rate.
direct deposit
70 x 8 x 3/4 ie 420
The "13 percent rate" is the equivalent annual rate. So the interest will be 130.
2.25 percent apex
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%?
Amount to Deposit (P) = ? Time (N) = 15 months or 1.25 years Rate of Interest (R) = 5 Interest Earned = 200 Formula for Interest = P * N * R / 100 Rearranging the formula we get: P = Interest * 100 / N * R = (200 * 100) / 1.25 * 5 = 20000 / 6.25 = 3200 If they want to earn 200 interest they must deposit 3200 as the amount for the certificate of deposit.
Kate invested 4500.
Two equations. x+y=56000 .07x=.05y Solve both of these equations simultaneously and it will be the answer. x+(.07/.05 x)=56000
Certificate of Deposit Calculator Use this calculator to find out how much interest you can earn on a Certificate of Deposit (CD). Just enter a few pieces of information and we will calculate your annual percentage yield (APY) and ending balance. Click on the "View Report" button to see a detailed schedule of your CDs balance and interest earned.
A person could the interest rates for certificates of deposit by using an interest rate calculator where the amount of the deposit is entered into an equation and the end result will be how much interest will be earned for the term you want.