763.89
1000 x (1.01)12 = $1126.83
Simple interest is the interest you earn on your principal, IE the amount of your original investment. For example, you put 1000 dollars in a saving account paying 3% per annum. At the end of the year you will have earned 30 dollars on that one thousand dollars. If you leave the principal and interest in the account for another year you will earn another 30.00 on your original 1000 dollars plus .90 interest. on the first 30.00 dollars interest. This gives you a total of 1060.90 in your second year. In each succeeding year you will earn interest on your interest plus interest on your original principal which, if left alone will add up to a substantial some given the power of compound interest. One caveat, compound interest is a double edged sword. If you have a loan and fail to make your monthly payments on time, compound interest will gut you financially.
1.5% monthly
If not compounded monthly, a monthly interest rate is simply 1/12 of the annual rate. Things do get complicated, though if the interest is compounded monthly. An annual interest rate of R% is equivalent to a monthly rate of 100*[(1 + R/100)^(1/12) - 1] %
Annual Interest Rate divided by 12= Monthly Interest Rate
$750 / month in interest rates.
Your monthly payment, assuming you have quoted the interest rate correctly, should be $165.83 if you pay this off in one year (12 monthly payments)
60 divided by 3,000 = 2 %
The average monthly salary of a NASA astronaut is about nine thousand five hundred and eighty three dollars. That is approximately one hundred and fifteen thousand dollars a year.
1000 x (1.01)12 = $1126.83
ROUGHLY $25.- PER THOUSAND DOLLARS OWED
forty two thousand dollars a month
$465.97
The average monthly rent is around 800 dollars a month for a 3 bedroom apartment. Near Chicago, the rent goes up to over a thousand dollars a month.
If you need a monthly income then obviously a monthly income is better. If the monthly interest is not withdrawn then it makes no difference because the annual interest rate is usually equal to the compounded monthly rate.
Multiply the principle by 1/12 of the interest to calculate how much interest you pay for that moth. Ex: 1/12 of 12.9% = 1.075% (same as .01075). 5000 X .01075 = 53.75 interest to pay for that month. Hence, the first 53.75 of your first payment is for interest alone.
A wedding planner makes around three thousand dollars monthly. If they have their own business and can handle more clients, they can make more.