Simple interest equals principle (p), times rate (expressed as a fraction) (r) times time (in years) (t). So 16500*(8/100)*2= 2640.
$2400
It is 1050*(4.6/100)*2
$150. 5% interest per $1000 is $50 per year. You had the loan 3 years- $50 x 3.
if its simple interest: I = prt = 240 the total money to be returned is 2240
18.90 as an interest. and principle wil remain same.
Simple interest: 144Compound interest: 152.64
19035 by simple interest
$48
$494.34 Interest= principal amount * time* simple interest %
Simple interest = 1000 * 5/100 * 3 = 150
7% simple annual interest over 2 years = 14% total interest.14% of R528 = R73.92 .
You already gave the simple interest - 9 percent. Rethink and ask your question again.
Total simple interest = 2500*11/100*3 = 825
The simple interest on a loan of 5 700 at 5.3 percent for 4.5 years is 1359.45.
331/3 percent simple interest will double any amount in 3 years.
$2400
1359.45