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Earn +20 ptsQ: Am amount of money originally invested is called?
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When invested at an annual interest rate of 8 percent an account earned 336 of simple interest in one year How much money was originally invested in the account?
Let P be the amount of invested money. Then, .08P = 336 P = 336/.08 = 4,200
What is a Compound interest calculator?
A compound interest calculator is used for determining how much your invested money can make you in it's lifetime of being invested. This is useful in telling you how much a certain amount of money will make you when it matures.
Joan has twice as much money invested at 5 percent simple annual interest as she does at 4 percent if her yearly income is 350 how much does she have at each rate?
x = amount of money invested at 5% y = amount of money invested at 4% x=2y .05x+.04y=350 .05(2y)+.04y=350 .1y+.04y=350 .14y=350 y=$2500 x=$5000
A principal of 700 is invested in an account at 6 per year compounded annually What is the total amount of money in the account after 5 years?
There is 936.76
Which variable in the simple interest equation you equals p r t represents the original amount of money borrowed or invested?
p = principal ie amount invested; r = annual rate of interest; t = time in years. interest receivable = (p x t x r)/100
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