You have failed to tell us to what period of time the 9½% interest is applied - is it Yearly, Monthly, Daily (if only - I can but dream).
I will guess that it is 9½% APR simple interest.
With Simple Interest, the interest is gained only on the capital and not any interest reinvested.
→ 1 year's interest is 9½% of 3500 = 9.5/100 × 3500 = 332.50
→ 1½ years interest = 1½ × 1 year's interest = 1.5 × 332.50 = 498.75
5 percent means you get (0.05 x 500) = $25 per year, assuming simple interest.Over 2 years, you get $50 interest. Plus, of course, you should also get your $500 back.
500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.
500*6/100*3 = 90
500 + 3% = 515
655.40
Rs 500
5 percent means you get (0.05 x 500) = $25 per year, assuming simple interest.Over 2 years, you get $50 interest. Plus, of course, you should also get your $500 back.
Simple interest, 500 + (5 x 5 x 4) = 600. Compound 500 x 1.04^5 = 632.66
35
-- You want it to earn (2,200 - 1,700) = 500-- 500 is 5/17 = 29.41% of the original 1,700.-- At 7.7% simple interest, it will earn 29.41% in 29.41/7.7 = 3.82 years.(The interest payment at the end of the 4th year puts it over the top.)
500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.
Five years ago, the interest rates on mortgages was only at 0.5 percent. As of today, interest rate on mortgage soared to 2.5 percent. That is 500 percent increase for the past five years.
500*6/100*3 = 90
$500 (1.06)12 = $1,006.10
It depends if it is on compound or simple interest! I will show you how much for both simple and compound. Simple: 500 / 100 =5 5 x 3.5 = 17.5 17.5 x 22 = 385 385 + 500 = 885 Compound: 500 (1+(0.035 / 1))22 = 1065.76 Overall, the compound interest will make you more, and is the most likely option for banks to use. Hope this helps you complete your math homework, or whatever it is!
500 + 3% = 515
635.61