0
What is the interest rate with interest earned of 76.00 and principal of 800.00 for 2 years?
Wiki User
∙ 11y ago
simple interest is I = prt so rate becomes r = I / (pt)
r = 76 / (800 x 2) = 76/1600 =0.0475
if you need a percent answer multiply by 100
r = 4.75 percent
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
How much interest will be earned on an investment of 8000 at 10 percent simple interest for 3 years?
$2400
What is the annual interest rate if 1600 is invested for 6 years and 456 in interest is earned?
Use the formula I = P x R x TWhere I=interestP=principal investmentR=interest rateT=time in yearsIn this case, we want to know R, so re-arrange the formula to get:R = I / (P x T)=456/ (1600x6)=456/9600=0.0475=4.75%
What is the interest on 950 invested for 4 years in an account that earns simple interest at a rate of 3 percent per year?
3% for 4 years is equivalent to 12% of the principal, in this case 12 x 9.5 which is 114.
Suppose you invest 1200 in four years You earned 312 in simple interest What is the interest rate?
6.5%Formula for finding Simple InterestSI [Interest] = (P×R×T)/100P [sum] = (SI×100)/(R×T)R [Rate/year] = (SI×100)/(P×T)T [Time] = (SI×100)/(P×R)whereS.I. = Simple Interest,P = Principal or Sum of amount,R = % Rate per annum,T = Time Span
How much interest is earned for the investment for 20000 for 2 years at 6 percent compounded annually?
Total value = 20000*(1.06)2 = 22472 So interest = 2472
What is the principal if the Interest earned is 27.00 for 2 years at 1.5?
Assuming that 1.5 refers to 1.5% and that the interest is compounded annually, the principal is 893.30
Juan deposited 200 in a savings account earning 3 percent interest over 2 years What was the total amount of interest earned after 2 years?
Interest for 1st year = $6 Principal after 1 year = $206 Interest for 2nd year = $6.18 Principal after 2 year = $212.18 Total Interest earned after 2 years = $12.18
How do you calculate principal and interest when amountrate of interest and time period is given?
The amount, P, is the principal. If the rate is r% compounded annually for y years, then the total interest earned is P*[(1 + r/100)^y - 1]
What is the future value of 80000 dollars with 5 percent interest in 4 years?
102102.52
Formula for calculating compound interest?
P*(1+R/100)powerT where P= money borrowed or principal and R= rate in percent and T= time * * * * * Actually, this formula gives the value of the principal PLUS interest. You need to subtract P from the answer to get the compounded interest.
What is the simple interest if a principal over 20 years equals the borrowed principal?
It is 5%.
What is the principal balance if the principal plus interest at the end of 1 and a half years is 3360 at an annual interest rate of 8 percent?
3000
What is the Simple Interest Formula?
I = prt where I = interest, p = principal, r = rate. and t = time in years.
How much compound interest is earned on 15750 principal with an annual interest rate of 2 compounded annually over 3.5 years?
The analytical answer is 1130.34 but banks are not likely to round up when it comes to paying you money so I would say 1130.33
What the principal if the interest is 30 and the rate is 4 percent and the time is 2 years?
Principal = 30/[1.042 - 1] = 367.65
What is the simple interest on 642 for 7 years at 11 percent per annum?
$494.34 Interest= principal amount * time* simple interest %
A deposit of 10000.00 was made to an account the year you were born After 12 years the account had earned 6600.00 in interest What simple interest rate did the account earn?
Deposited amount (P) = 10000 Rate of Interest (R) = ? No. of Years (N) = 12 Interest Earned Formula = P * N * R / 100 Modifying the formula we get: R = Interest Earned * 100 / P * N = (6600 * 100) / (10000 * 12) = 660000/120000 = 5.5% They earned an interest of 5.5% per year for 12 years.
