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What is the length of time required before a 1000000 deposit will double if the interest rate is 10 percent?
There's a rule of thumb for "double your money" problems: Time = 70/interest rate, so in this case approx 7 years.
How compound interest formula is helpful for a financial institution in order to calculate the amount due by customers?
In fact compound interest is exciting if you're lending but dangerous if you're borrowing as the interest is added to the principal and itself attracts interest. To calculate compound interest use the Rule of 42. Divide the rate of interest into the number 42 and the answer is the number of periods - usually years when dealing with annual interest - for the principal, i.e. the sum borrowed and therefore the amount to be paid back, to double in value. Example: borrow $1000 at 6% p.a., pay nothing each year and you will owe $2000 at the end of 7 years. Conversely, use the rule of 42 to find out the rate of depreciation. If your $10,000 car depreciates at 6% a year then it will be worth $5000 at the end of 7 years.
What is the interest on R528 at 7 percent simple interest over 2 years?
7% simple annual interest over 2 years = 14% total interest.14% of R528 = R73.92 .
What is rule 72?
How long it will take for your money to double/divide the annual interest rate into 72.
What is the yearly interest payment on a 32500 loan having an interest rate of 7 percent calculate as simple interest?
32500 is 325 "hundreds" so 7 times that ie 2275 is your annual interest.
In how many years your amount will be double if rate of interest is 10 percent annually in compound interest?
Approximately 7 years. The general rule is to divide 70 by the interest rate to get an approximation of how long it will take to double. If the interest is compounded annual you will have $194.88 after 7 years, and $214.37 after 8 years. Though if interest is compounded more regularly (ie. monthly or daily) this will grow at a slightly faster rate.
What is the length of time required before a 1000000 deposit will double if the interest rate is 10 percent?
There's a rule of thumb for "double your money" problems: Time = 70/interest rate, so in this case approx 7 years.
What is the rule for prime numbers 7?
It can only be divided by 1 and 7.
Will hobos rule the world by 2020?
It is unlikely that hobos will rule the world. As a group, they show a lack of interest in politics.
How long can a personal loan between you and someone else last you wrote it 7 years ago he got judgment now plus interest for the past 7 years does 10 year go away rule start now or when written?
The ten year rule is from the date of the court's judgment; regardless of any previous agreement.
How compound interest formula is helpful for a financial institution in order to calculate the amount due by customers?
In fact compound interest is exciting if you're lending but dangerous if you're borrowing as the interest is added to the principal and itself attracts interest. To calculate compound interest use the Rule of 42. Divide the rate of interest into the number 42 and the answer is the number of periods - usually years when dealing with annual interest - for the principal, i.e. the sum borrowed and therefore the amount to be paid back, to double in value. Example: borrow $1000 at 6% p.a., pay nothing each year and you will owe $2000 at the end of 7 years. Conversely, use the rule of 42 to find out the rate of depreciation. If your $10,000 car depreciates at 6% a year then it will be worth $5000 at the end of 7 years.
What is the interest on R528 at 7 percent simple interest over 2 years?
7% simple annual interest over 2 years = 14% total interest.14% of R528 = R73.92 .
What is rule 72?
How long it will take for your money to double/divide the annual interest rate into 72.
What is the rule for input 4 out 11?
the rule is add 7 because 4 plus 7 = 11
What is the yearly interest payment on a 32500 loan having an interest rate of 7 percent calculate as simple interest?
32500 is 325 "hundreds" so 7 times that ie 2275 is your annual interest.
What is rule book in 7 deadly sins of service?
rule book
What is divisibility rule of 7?
Double the last digit and subtract the last digit from the remaining digits.
