It is 80547.58
find the interest on $4000 at 3.5% annual interest for 1 year 6 months
Simple interest is calculated: Interest= Principle X Rate X Time. In this case Interest= 20000 X .089 X 6 (72 months= 6 yrs) which equals $10680 in interest. You would owe/pay $30680 at the end of the 72 months.
.5
21.28
21.28
find the interest on $4000 at 3.5% annual interest for 1 year 6 months
Simple interest 140.00, compound interest (where interest is added to the previous months interest) 140.45
The formula for interest is I = rtP. Then r = I/tP, where t = 11/12. This calculates to a simple interest rate of 8.8 percent.
Simple interest is calculated: Interest= Principle X Rate X Time. In this case Interest= 20000 X .089 X 6 (72 months= 6 yrs) which equals $10680 in interest. You would owe/pay $30680 at the end of the 72 months.
Eleven..? months? years?. Simple or compound interest?
14 months
.5
21.28
21.28
(15 x 6.75)/3 ie 33.75
75$
Take the annual interest rate, divide it by 2 and multiply it by the amount you invested or borrowed.