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If you have 4300 that you invest at 5 percent simple interest. How long will it take for your balance to reach 7525?
Wiki User
∙ 14y ago
I = PTR/100. In this case I = 3225, P = 4300, T is unknown and R = 4.
so 3225 = (4300 x T x 4)/100 ie 3225 = 172T making T = 18.75, so it'll be 3/4 of the way throught the nineteenth year.
Wiki User
∙ 14y 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
Alfred wants to invest 4000 at 6 percent simple interest rate for 5 yrs how much interest will he received?
1200 rate*money invested*interest(divided by a 100) 5*4000*.06=1200
If a simple interest of 4.5 percent was paid at the end of the year then find the balance at the end of the year?
The formula for simple interest is Interest = Principal x Rate x Time ÷ 100 As the rate is an annual rate and the period is 1 year then Interest = Principal x 4.5/100. The balance at the year end = Principal + Interest = Principal x 104.5/100.
Are Simple interest calculated as a percentage of the bank balance and interest earned?
This answer is False!!
Alfred wants to invest 4000 at 6 percent simple interest for 5 years how much interest will he receive?
6% of $4,000 = $240 .If it's paid 5 times, he receives (240 x 5) = $1,200 .
How many years does Steven need to invest his 3000.00 at 7 percent to earn 210.00 in simple interest?
One year.
How much did Kate invest if she earned 1800 in 8 years at a 5 percent annual simple interest rate?
Kate invested 4500.
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
Alfred wants to invest 4000 at 6 percent simple interest rate for 5 yrs how much interest will he received?
1200 rate*money invested*interest(divided by a 100) 5*4000*.06=1200
If a simple interest of 4.5 percent was paid at the end of the year then find the balance at the end of the year?
The formula for simple interest is Interest = Principal x Rate x Time ÷ 100 As the rate is an annual rate and the period is 1 year then Interest = Principal x 4.5/100. The balance at the year end = Principal + Interest = Principal x 104.5/100.
How do you compare Diminishing Interest to Float Interest?
You have confused between the terms. Simple interest and interest at flat rate is one and the same. The other type of interest is diminishing balance or reducing balance. These are interests associated with loans or finances sought. Well a simple rule of thumb is that usually simple interest rate is about half of rate on reducing balance. For e. g. if rate at reducing balance is 12% then simple interest for the same will be around or just more than 6%
Are Simple interest calculated as a percentage of the bank balance and interest earned?
This answer is False!!
Alfred wants to invest 4000 at 6 percent simple interest for 5 years how much interest will he receive?
6% of $4,000 = $240 .If it's paid 5 times, he receives (240 x 5) = $1,200 .
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
