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Any time that the borrower and lender agree to.

Any time that the borrower and lender agree to.

Any time that the borrower and lender agree to.

Any time that the borrower and lender agree to.

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11y ago
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11y ago

Any time that the borrower and lender agree to.

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Q: What is ordinary time in simple interest?
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The formula for ordinary interest using exact time is?

The formula for simple (ordinary) interest on a bank deposit is Deposit Amount x Rate x Time (# of days) on Deposit.


What is the Formula for simple interest rate?

The answer for rate in simple interest is =rate= simple interest\principle*time


Example of ordinary and exact interest?

example of ordinary interest


How do you find time in simple interest?

time(t)= interest/rate , princaple


Find the formula of simple interest?

the formula for simple interest is I=PRT (interest=principal x rate x time )


How do you calculate simple interest earned?

simple interest = principle (money) times the rate times the time


What is the simple interest on 642 for 7 years at 11 percent per annum?

$494.34 Interest= principal amount * time* simple interest %


How do you do simple interest?

I=PRT I=Interest P=Pecuniary(money) R= Rate(interest) T= Time


What is the ordinary interest of a loan of 500 at a 7 percent annual interest rate if the loan was made on March 15 and is due May 15?

5.83$ === Solution Method: 1. "ordinary interest" = "simple interest" <-- which is the correct financial term to use. 2. 7% APR interest can be expressed in any increment that you wish, by dividing it by a specific period of time (e.g.: annually rate = .07/1, monthly rate = .07/12, weekly rate = .07/(365/7), daily rate = .07/365 3. In your case, you want to compute the interest for 2 month as follows: (.07/12) * 2 * 500$ = 5.83$ <-- this is the simple interest owed


What is the amount of simple interest on 290000.00 at 5 over 10 years?

The simple interest in this case is $145,000. It is calculated by multiplying the amount by the interest rate and the length of time.


Draw a flow chart to calculate simple interest with 10 percent rate if time is greater than 2 yrs otherwise calculate simple interest with 5 percent?

Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.


What is the formula for finding time when using simple interest?

time= interest/principal x rate likee yeahh thats it