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What is the formula for finding time when using simple interest?
Wiki User
∙ 12y ago
time= interest/principal x rate likee yeahh thats it
Wiki User
∙ 12y ago
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Alfred wants to invest 4000 at 6 percent simple interest rate for 5 years How much interest will he receive?
he will receive $1,200ANSWER:Yes $1,200 is the correct answer but the logic behind it is that, it is using simple interest term means here 6 is representing interest for a year, Inorder to calculate the whole interest we will multiply 6 by 5 years we will get 30%.The total interest he will get $4,000 x 30% = $1,200.
What are the two ways of finding the number of sides of a polygon which has 189 diagonals?
By using the polygon diagonal formula or the quadratic equation formula in which in both formulae they work out that the polygon in question has 21 sides.
What states a rule using variables?
A Formula
What is the area of 15 meter long and 9 meter wide?
Finding the area of something is rather simple. You simply multiply the Length times the width. The formula is L x W=A L for length W for Width A for area in this case it would be 15 x 9= 135 The unit for area is whatever unit you are using squared So the answer is 135 squared meters
What is a disadvantage to using equations?
Equations using multiple variables, or powers of variables, may not provide a simple numerical value for a given variable. Equations that are solvable using the quadratic formula may result in two values.
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 are the advantages of using simple interest?
Using simple interest is easier for people to understand. Customers will be able to manage their payments if a business uses simple interest.
What is a simple sentence using the word chemical formula?
This is a simple sentence using the words "chemical formula".
What is the formula for finding the height of a triangle?
using a protractor
Solve simple investment problems using the simple interest rate method?
find the interest on $4000 at 3.5% annual interest for 1 year 6 months
What is the formula of finding mean using direct method?
formula for finding mean through direct mean method: sigma fi xi /sigma fi
What is the formula for hire purchase?
Hire purchase is calculated using the simple interest formula, and interest is only calculated on the amount owing. A = S ( 1 + i.n) Where: A = Total amount after interest S = Starting amount after deposit has been subtracted (no interest) i = Interest rate (divide the % by 100, and then again by 12, 4, or 6 depending on the number of times interest will be calculated) n = number of time periods that the purchase agreement states to pay over (24 months, etc) Substituting the given values into the formula will give you the total amount to be paid after interest has been accrued. To calculate the repayments, you divide the answer derived as A (total amount) by the number of repayments (n) you have to make. It is a really simple process, and it will only ever use the simple interest formula. Hope this was helpful ^^
How is interest calculated?
Interest is found using the formula: PRT/100 = PxRxT/100. the answer is then divided by 100.
The amount of money charged for borrowing or using money?
Simple Interest
Assuming a 30-day period in November calculate November's interest using the average daily balance method?
Use this simple formula: I=Average daily balance times the interest rate, divided by 366 times 30 days in November.
What is another way of finding the surface area besides using a formula?
there isn't one
How do you make a formula to find slope of an area?
You can make a formula of finding the slope of an area buy first finding the equation of the line using: y - y1 = m ( x - x1 ).
