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What is the amount of money P that will generate 40 in interest at a 10 interest rate over 5 years?
Oh, dude, it's like super simple math. So, to calculate the principal amount P, you just divide the interest by the interest rate times the number of years. In this case, 40 divided by (10% times 5 years) gives you the principal amount P. That's like, what, 80 bucks? Math is fun, right?
What else can I help you with?
If you have 2500 to invest at 6 interest compounded quarterly. For how many years will the money need to be invested for that amount to triple?
It will take 19 years.
How much would 900 invested at 6 percent interest compounded continuously be worth after 4 years?
At 6% interest, the total amount of money increases by a factor of 1.06 (100% + 6%) every year, so to get the amount after 4 years, you calculate 900 x 1.064.
What is the total amount of money owed if 1250 was borrowed for four years at 3.5 interest?
Assuming Compound Interest I(n) = I(o)[1 + r/100]&(n) Where I(o) = 1250 r = 3.5% n = 4 years Substitutie I(4) = 1250[1 + 3.5/100]^(4) Hence I(4) = 1250 [ 1.035]^(4) I(4) = 1250[1.147523] I(4) = 1434.40 is the total amount owed. NB Compound interest is the usual business practice of calculating interest. NNB Payment would possibly be done on an monthly basis ; 1434.40 / 48 = 29.88 is paid each month .
How much would 300 invested at 7 interest compounded continuously be worth after 4 years Round your answer to the nearest cent. Do not include units in your answer.?
7% compound interest means that the amount of money increases, every year, by a factor of 1.07. After 4 years, you have 300 x 1.07^4.
How much interest if you borrow 2000 at a rate of 6 percent for 2 years?
if its simple interest: I = prt = 240 the total money to be returned is 2240
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 many years will it take to grow an investment to a specific amount of money?
The number of years it will take to grow an investment to a specific amount of money depends on the initial investment, the interest rate, and the compounding frequency.
What is simple interest?
Simple interest does not compound. In other words, If you start off with $500 and get $5 in interest, the $5 you got in interest will not be included when calculating the amount of interest you will get next year. Simple interest can be calculated by the formula i = prt, where i is the amount of money earned from the interest, p is the principle (starting money), r is the rate (as a decimal,) and t is the time in years. Another formula is used to calculated the accumulated amount: A = p(rt + 1), where A is the accumulated amount.
If you have 2500 to invest at 6 interest compounded quarterly. For how many years will the money need to be invested for that amount to triple?
It will take 19 years.
On what sum of money will compound interest for 2 years at 5 percent per year amount to Rs 164?
Rs 1600.
Can you give me the continuous compound interest formula?
Compound Interest FormulaP = principal amount (the initial amount you borrow or deposit)r = annual rate of interest (as a decimal)t = number of years the amount is deposited or borrowed for.A = amount of money accumulated after n years, including interest.n = number of times the interest is compounded per yearExample:An amount of $1,500.00 is deposited in a bank paying an annual interest rate of 4.3%, compounded quarterly. What is the balance after 6 years?Solution:Using the compound interest formula, we have thatP = 1500, r = 4.3/100 = 0.043, n = 4, t = 6. Therefore, So, the balance after 6 years is approximately $1,938.84.
What is formula of compound interest?
Compound Interest for n compounds per year:A = P(1+r/n)ntWhereA = amount of money at time tP = Principal balancer = yearly interest raten = number of compunds per yeart = time in yearsContinuous Compound Interest:A = PertA = amount of money at time tP = Principal balancer = yearly interest ratet = time in years
How much would 900 invested at 6 percent interest compounded continuously be worth after 4 years?
At 6% interest, the total amount of money increases by a factor of 1.06 (100% + 6%) every year, so to get the amount after 4 years, you calculate 900 x 1.064.
You deposit $200 per year in a bank account that offers an annual interest rate of 6. After 5 years your total earnings in interest are?
To calculate the total earnings in interest after 5 years, you can use the formula for compound interest: A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, P is the principal amount ($200 in this case), r is the annual interest rate (6% or 0.06), n is the number of times that interest is compounded per year (assuming yearly compounding here), and t is the number of years the money is invested for (5 years). Plugging in the values, we get A = 200(1 + 0.06/1)^(1*5) = 200(1.06)^5. Calculating this gives you the total amount accumulated after 5 years. Subtracting the initial deposit of $200 per year for 5 years will give you the total earnings in interest.
How is simple interest calculated in banks?
They use the below formula: Interest per year = p * n * r / 100 P - amount you deposit N - number of years R - rate of interest If you substitute the numbers corresponding to the amount that you deposit, the number of years and rate of interest, you can get the actual interest amount
Interest can be obtained on an amount of Rs 9650 at the rate of 6 pcpa at the end of 3 years?
Yes it can, provided the money is not in a longer term bond.
How can one calculate continuous compound interest?
Continuous compound interest can be calculated using the formula A P e(rt), where A is the amount of money accumulated after a certain period of time, P is the principal amount (initial investment), e is the mathematical constant approximately equal to 2.71828, r is the annual interest rate, and t is the time the money is invested for in years.
