75$
20.05
Rate= Interest/Principle x Time. For Example.... Camilla borrowed $2000,(That's the principle),the interest is $4,000 her year was 3, and it was 4% each year,(.04) Explanation.... $2000 x 3 = $6000...$4000 divided by $6000 = .7 (If you round it). The rate= .7
Compound interest is simply simple interest except the amount of interest you owe is always added into the amount of money you borrowed before you calculate.Lets give an example.You borrowed a million from the bank at Year 2000 with interest rates of 5%.The formula for simple interest is PIN/100, where P is Principle (amount owed), I is interest rate (in percentage), N is the number of years.Year 2000: 1,000,000Year 2001: 1,000,000 * 5 * 1 / 100 = 50,000 (this is the interest)Year 2002: (1,000,000 + 50,000) * 5 * 1 / 100 = 52,500By the end of 2002, you would owe the bank 1,102,500(1,000,000 + 50,000 + 52,500)The formula for compound interest is P * (1 + I/100)N where P,I and N still refers to the same thing.Year 2000: 1,000,000Year 2001: 1,000,000 * (1+5/100)1 = 1,050,000Year 2002: 1,050,000 * (1+5/100)1 = 1,000,000 * (1+5/100)2 = 1,102,500
About 2.4 months.
2000
20.05
It is 8%
Company has paid 2000 cash for interest due to which interest payable reduced by 2000.
9% means 9/100 = 0.09 0.09 * $2000.00 = $180.00 in simple interest for one year =============================
It is 240 currency units.
50% interest if you settle 0-6 months 65% interest if you settle 6-12 months so if you borrow $2000 you pay $3000 if you settle within 6 months or $3300 in more than 6 months
The interest rate would end up being 9% after you do all the calculations.
A : the Total P : the amount you started with i : interest rate as a decimal (5÷100= 0.05) n : the investment period in years A= P(1+i.n) A= 2000(1+(0.05×8)) A= 2800
2120.80
Multiply the principal (P) by the annual* interest rate as a decimal (r) and the time in years* (t). *The time period may be expressed in months, etc. For example, $2000 invested at 7% simple interest for 5 years: I = Prt = 2000x0.07x5 = 140x5 = $700.
320
if its simple interest: I = prt = 240 the total money to be returned is 2240