Assuming simple interest, you multiply the capital times the interest rate times the number of years.
$494.34 Interest= principal amount * time* simple interest %
120
3
In 2.54 years the compound interest will amount to 282.39 in both cases.
Invest at an amount of 200000 at a bank that offers an interest rate of 7,6%p.a Compounded annually for a period of 3 years
$494.34 Interest= principal amount * time* simple interest %
Rs 80.
It is 41575.40
P.C.P.A. is the "Percent Compounded Per Annum." This measurement is used when trying to determine the compound interest for previous years.
5 years
30 years
It depends on whether the 4% interest is per annum or for 8 years altogether. Also, you have to see if it is a simple interest or compounded interest.
120
3
It will grow to nine eighths of the original sum.
If the 3% is "simple" interest, then the $100 earns an extra $18 in 6 years. If the interest is compounded yearly, then it earns $19.41 extra. If the interest is compounded weekly, then it earns $19.72 extra.
In 2.54 years the compound interest will amount to 282.39 in both cases.