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What is 2 percent per annum?
The same as 2% per year. Per annum means per year.
A sum invested at 5 percent simple interest per annum in 2.5 years will grow to?
It will grow to nine eighths of the original sum.
What grows by 2 percent per annum?
Your capital in a poor savings account.
How much would 120 invested at 6 percent interest compounded monthly be worth after 21 years Round your answer to the nearest cent?
120 x (1.0621). You need a calculator with logarithms to solve this quickly. Take the log of 1.06, multiply that by 21 then take the antilog. The answer should be close to 3.4 I have 3.995636 which would give 407.95 to the nearest cent. Later: Sorry, this is based on annual compounding. For monthly the equation is 120 x (1.005252). You're on your own, I'm afraid! * * * * * The second part of the above answer is correct if this is purely a mathematical exercise. However, 6% compounded monthly is an annual interest rate of approx 101.2%. If you know anyone who gives even a tenth of that rate I would be interested to know! What happens, in real life, is that the financial company advertises the annual equivalent rate of their monthly rate. So, a 6% rate, compounded monthly, is really 0.487% monthly. This is because 0.487% compounded 12 times is 1.0048712 = 1.06, or 6% per annum. Then the real life problem reduces to 6% per annum for 21 years, which is 120*(1.06)21 = 407.95 - as in part 1 of the above answer. * * * * * The last paragraph above is incorrect. As was stated in the first answer, that would be for annual compounding. To calculate 6% per annum (which is what we usually mean by interest rates) compounded monthly, you first convert the interest rate to a monthly rate by dividing by 12, and that of course is half a percent per month, so every month the balance is multiplied by 1.005. So the answer of 120 x (1.005252) given there is correct. On the scientific calculator on my computer, I get $421.72.
What is 20000 in 5 years with 7 percent interest compounded semiannually?
After 5 years, 20000 at 7% per annum compounded semiannually will be 20000*(1 + 0.5*7/100)2*5 = 20000*(1.035)10 = 28211.98
What is the nominal rate of interest per annum compounded monthly equvalent to effective interest rate of 12.60 percent per annum?
0.9938% per month, when compounded is equivalent to 12.6% annually.
What is 9 percent per annum on 30000?
If it is simple interest, then it is 2700. ■
What is pcpa as interest rate?
P.C.P.A. stands for Percent Compounded Per Annum.
What does 4.9 percent p. a. interest mean on a credit card?
It means the percent of interest paid annually (p.a. means per annum).
What is the simple interest on 642 for 7 years at 11 percent per annum?
$494.34 Interest= principal amount * time* simple interest %
What is 9 percent per annum of 675.00?
60.75 per annum.
What is 7 percent per annum on 164300?
11501 per annum.
What is the principal amount which earns Rs24 as simple interest for 3 years at 10 percent interest per annum?
Rs 80.
What would be the interest on 231700 at 3 percent per annum for 5 years and 7 months?
It is 41575.40
How much per annum is 18 percent per month?
216% per annum
140000.00 note with 8 percent per annum with monthly payments of 1200.00?
Interest 1152,00 annual. Surely you can do better than 8%-look into a refi once you have been in a while & congrats on your new home.
What is meant by p.c.p.a. as interest?
P.C.P.A. stands for "per calendar period annum," which is a method used to calculate interest rates on loans or investments. It refers to the interest rate applied over a specific calendar period, typically a year, regardless of the number of days in that period. This method simplifies interest calculations by assuming a constant rate throughout the year, making it easier to compare different financial products.
