Simple interest: 5000 + I = PTR/100 = 5000 + 5000 x 4 x 6/100 = 6200
Compound interest: = 5000 x 1.064 = 6312.38
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It is 5000*(1.06)4*11/2 = 5000*1.0622 = 5000*3.064 approx = 18017.69 You realise, of course, that 6 percent quarterly is equivalent to over 26% per year!
7,093 * * * * * No, that is for 6 years. For 5 years it is 5000*(1.06)5 = 6691.13
150% of 4= 150% * 4= 1.5 * 4= 6
5000 x 6/100 x 83/365 = (300 x 83)/365 = 68.22
0.06% = 0.0006 = 6/10000 or 3/5000 in fraction