Interest each year is 275 × 4% = 275 × 4/100 = 11
→ total interest over 4 years is 4 x 11 = 44
→ total to repay after 4 years is 275 + 44 = 319
5% per year, simple interest.
9,938.20 * * * * * That would be correct only if banks charged simple interest as opposed to compound interest. Anyone believe that likely? The correct answer, when interest is compounded, is 7900*(1.043)6 = 10170.28
It is 5%.
p = principal ie amount invested; r = annual rate of interest; t = time in years. interest receivable = (p x t x r)/100
find the interest on $4000 at 3.5% annual interest for 1 year 6 months
5% per year, simple interest.
Take the annual interest rate, divide it by 2 and multiply it by the amount you invested or borrowed.
9,938.20 * * * * * That would be correct only if banks charged simple interest as opposed to compound interest. Anyone believe that likely? The correct answer, when interest is compounded, is 7900*(1.043)6 = 10170.28
It is 5%.
A $5000 investment at an annual simple interest rate of 4.4% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?
p = principal ie amount invested; r = annual rate of interest; t = time in years. interest receivable = (p x t x r)/100
find the interest on $4000 at 3.5% annual interest for 1 year 6 months
I= Prt I=interest P=principal r=rate t=time
It is 1100*(2/100)*9 = 198
7% simple annual interest over 2 years = 14% total interest.14% of R528 = R73.92 .
500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.
24.00