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What is the difference between ordinary interest and exact interest?
So ordinary interest is 30 days collecting or gathering interest on a dollar and exact is collecting or gathering 1 year interest on a dollar.
How much interest earned on 4000000 in one year?
The interest earned on $4,000,000 in one year depends on the interest rate applied. For example, at an annual interest rate of 2%, the interest would be $80,000. At 5%, it would be $200,000. To determine the exact amount, you would need the specific interest rate used.
How much interest on 100 million dollars in 1 year?
The amount of interest on $100 million in one year depends on the interest rate. For example, at a 1% interest rate, the interest would be $1 million, while at a 5% rate, it would amount to $5 million. If you have a specific interest rate in mind, I can calculate the exact amount for you.
How much interest would three hundred million make a year?
The interest earned on three hundred million dollars in a year depends on the interest rate applied. For example, at a 1% annual interest rate, it would generate $3 million, while at a 5% rate, it would yield $15 million. To calculate the exact amount, multiply the principal ($300 million) by the interest rate (expressed as a decimal).
How do you find exact interest?
To find exact interest, use the formula ( I = P \times r \times t ), where ( I ) represents the interest, ( P ) is the principal amount (initial investment), ( r ) is the annual interest rate (in decimal), and ( t ) is the time in years. Ensure that the interest rate is expressed as a decimal (e.g., 5% becomes 0.05). This formula calculates the total interest earned or paid over a specified period with a fixed interest rate.
Example of ordinary and exact interest?
example of ordinary interest
What is the difference between ordinary interest and exact interest?
So ordinary interest is 30 days collecting or gathering interest on a dollar and exact is collecting or gathering 1 year interest on a dollar.
How much interest earned on 4000000 in one year?
The interest earned on $4,000,000 in one year depends on the interest rate applied. For example, at an annual interest rate of 2%, the interest would be $80,000. At 5%, it would be $200,000. To determine the exact amount, you would need the specific interest rate used.
What is the exact and ordinary interest computation?
t= numbers of days ordinary interest= Pr no. of days/ 360 days exact interest= Pr no. of days/ 365 days
Difference between Exact interest and Ordinary interest?
Interest that is based on a 360-day year instead of a 365-day year. In contrast, exact interest is based on a 365-day year. If large sums of money are involved, the difference can be significant
What is interest in a sentence?
His interest was in photography but he could not pursue. it. It is an example of interest word sentence.
Daily interest rate on annual rate of 17.7 percent?
If the interest is simple exact interest, the answer is 17.7/365 = 0.0485 daily percent interest, to the justified number of significant digits.
What is the exact interest for 600 at 8 percent for 45 days?
5.92
Interest calculated only on the principal?
This would be an example of simple interest.
How much interest would three hundred million make a year?
The interest earned on three hundred million dollars in a year depends on the interest rate applied. For example, at a 1% annual interest rate, it would generate $3 million, while at a 5% rate, it would yield $15 million. To calculate the exact amount, multiply the principal ($300 million) by the interest rate (expressed as a decimal).
Example of exact rhyme?
An example of exact rhyme is "cat" and "hat" where both words end with the same sound "-at".
What is an example of a personal interest?
chess
