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I= Prt
I=interest
P=principal
r=rate
t=time
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∙ 12y ago
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What is the formula for finding interest?
i=prt FACT: If an annual interest rate is given, time in the simple interest formula must be expressed in terms of years.
What is the Formula for simple interest rate?
The answer for rate in simple interest is =rate= simple interest\principle*time
What is the formula to calculate monthly interest rate if the annual interest rate is known?
Annual Interest Rate divided by 12= Monthly Interest Rate
How do you figure out your total amount of money after interest?
It depends on whether it is simple or compound interest. The formula for simple interest is A = P(1+rt), where A = amount of money after t years, P = Principal, or the amount of money you started with, and r = the annual interest rate, expressed as a decimal (i.e. 7% = 0.07). For compound interest, the formula is A = P(1+r)t.
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 for finding interest?
i=prt FACT: If an annual interest rate is given, time in the simple interest formula must be expressed in terms of years.
what is the formula of simple interest?
The formula for simple interest is: A=P(1+rt)
Find the formula of simple interest?
the formula for simple interest is I=PRT (interest=principal x rate x time )
What is the Formula for simple interest rate?
The answer for rate in simple interest is =rate= simple interest\principle*time
What is the formula to calculate monthly interest rate if the annual interest rate is known?
Annual Interest Rate divided by 12= Monthly Interest Rate
How do you figure out your total amount of money after interest?
It depends on whether it is simple or compound interest. The formula for simple interest is A = P(1+rt), where A = amount of money after t years, P = Principal, or the amount of money you started with, and r = the annual interest rate, expressed as a decimal (i.e. 7% = 0.07). For compound interest, the formula is A = P(1+r)t.
How much interest is earned on the account?
A $5000 investment at an annual simple interest rate of 4.4% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?
What is the formula for calculating interest coverage ratio?
operating income vefore interest and income taxes / annual interest expense
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
If a simple interest of 4.5 percent was paid at the end of the year then find the balance at the end of the year?
The formula for simple interest is Interest = Principal x Rate x Time ÷ 100 As the rate is an annual rate and the period is 1 year then Interest = Principal x 4.5/100. The balance at the year end = Principal + Interest = Principal x 104.5/100.
How is the formula for simple interest used?
PxRxT 100
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 .
