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What is the rate of interest if a certain sum of money at compound interest becomes Rs. 7396 in two years and Rs 7950.7 in three years. find the rate of interest?
The difference between 2 years and 3 years is another addition of the interest. 7396 × (1 + rate/100) = 7950.7 → rate = (7950.7/7396 - 1) × 100 = 7.5 % compounded per year.
How much will Pauline pay in interest if she takes out a simple interest loan with a principal of 3900 at 7.2 for three years?
To calculate the interest on a simple interest loan, you can use the formula: Interest = Principal × Rate × Time. Here, the principal is $3,900, the rate is 7.2% (or 0.072 as a decimal), and the time is 3 years. So, Interest = 3900 × 0.072 × 3 = $842.40. Pauline will pay $842.40 in interest over three years.
You deposit 10 a month in a bank that offers an annual interest rate of 6. at the end of three years your balance is?
To calculate the balance after three years of depositing $10 a month at an annual interest rate of 6%, we can use the future value of a series formula. The future value of the deposits is approximately $392.49 after three years, considering the compounded interest. This amount takes into account the interest earned on both the principal deposits and the interest accrued over the three-year period.
How do you calculate effective interest rate of a simple interest of ten per cent for three years?
2(3)(10)/4 = 15%
What is the current interest rate for a three month CD?
The current interest rate for a three-month CD is around 0.15 to 0.25.
What interest rate does Capitol One Bank have?
Capitol One is a credit card, not a bank. All of their credit cards offer an interest rate of 19.8%, except for their Platinum Mastercard. That offers and extremely competitive interest rate of only 5.99% for the first three years.
If a sum on compound interest becomes three times in 4 years then with the same interest rate the sum will become 27 times in how many years?
If a sum becomes three times in 4 years, the growth factor is (3 = (1 + r)^4), where (r) is the interest rate. To find out how long it takes to become 27 times, we can use the relationship (27 = 3^3). Therefore, it will take (4 \times 3 = 12) years for the sum to become 27 times its original amount at the same interest rate.
What is the interest rate to double money in seven years?
If you have an annual interest rate then is 10.405%
At what rate of simple interest will the interest on Rs 925 be two-fifth of it in 8 years?
At what rate of simple interest will the interest on Rs.925 be two-fifth of it in 8 years?
How much is the interest on a simple interest loan with a principal of 3900 at 7.2 for three years?
To calculate the interest on a simple interest loan, you can use the formula: Interest = Principal × Rate × Time. Here, the principal is $3,900, the rate is 7.2% (or 0.072 as a decimal), and the time is 3 years. Plugging in the values: Interest = 3900 × 0.072 × 3, which equals $842.40. Therefore, the interest on the loan is $842.40.
150 if invested for three years at a 9 percent interest rate?
$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.
What is an IRA CD?
its an IRA with a fixed interest rate for some period of time between six months and three years.
