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It depends on whether it is simple or compound interest. The formula for simple interest is A = P(1+rt), where A = amount of money after t years, P = Principal, or the amount of money you started with, and r = the annual interest rate, expressed as a decimal (i.e. 7% = 0.07).
For compound interest, the formula is A = P(1+r)t.
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If you invest 6000 dollars today ata nine percent interest rate what is the amount of interest after thirty years?
The total interest would be 73606.07 dollars, approx.
Ms. Johnson invested 5980 with a finance company which pays 15.6 percent simple interest per year. Find the interest and the amount she is expected to receive after 6 years.?
The interest is 5980*1536/100*6 = 5597.28 And the total amount is 11577.28
5000 is invested at 3 percent interest How much money must be invested at 5 percent interest so that the total interest from the two investments is 275 after one year?
$2,500 is your answer
What does sale price mean?
Sale priceis the total amount of money after a discount.
What is a simple interest in math?
Simple interest is interest that is calculated only on the amount of unpaid principal on a loan. Such interest is not added to the value of the loan but is tracked separately. Compound interest is interest that is calculated on the total of unpaid principal and accumulated interest on a loan. The difference is in simple interest there is no interest charged on accumulated interest while in compound interest there is interest charged on accumulated interest.
