To find the total amount, you can use the formula: Total Amount = Principal + Interest. First, calculate the interest using the formula: Interest = Principal × Rate × Time (in months/12). Then, add the interest to the principal to get the total amount.
To find the amount of interest using the total cost, you first need to determine the principal amount and the total cost incurred. The total cost typically includes both the principal and the interest. You can calculate the interest by subtracting the principal from the total cost: Interest = Total Cost - Principal. This will give you the amount of interest charged over the specified period.
You would first find the percent (if it was 5% interest (for example) on a calculator you would do the amount then multiply by 5, then click the percent, by hand: you would multiply the amount you paid for then multiply by 0.05 then you would get the interest; simple math :D
The interest is 5980*1536/100*6 = 5597.28 And the total amount is 11577.28
If the rate of annual interest is r% the period is n years and the amount invested is y Then the compound interest is y*(1+r/100)^n - y
To find the total amount, you can use the formula: Total Amount = Principal + Interest. First, calculate the interest using the formula: Interest = Principal × Rate × Time (in months/12). Then, add the interest to the principal to get the total amount.
To find the amount of interest using the total cost, you first need to determine the principal amount and the total cost incurred. The total cost typically includes both the principal and the interest. You can calculate the interest by subtracting the principal from the total cost: Interest = Total Cost - Principal. This will give you the amount of interest charged over the specified period.
You would first find the percent (if it was 5% interest (for example) on a calculator you would do the amount then multiply by 5, then click the percent, by hand: you would multiply the amount you paid for then multiply by 0.05 then you would get the interest; simple math :D
To find the interest rate percentage, divide the annual interest amount by the principal amount and then multiply by 100. In this case, the calculation would be ( \frac{3357.15}{144000} \times 100 ). This results in an interest rate of approximately 2.33%.
Take the annual interest rate, divide it by 2 and multiply it by the amount you invested or borrowed.
To calculate hire purchase interest, first determine the total cost of the item and the deposit amount. Subtract the deposit from the total cost to find the financed amount. Next, apply the interest rate, typically expressed as an annual percentage rate (APR), to the financed amount over the repayment period to calculate the total interest. Finally, add the interest to the financed amount to determine the total amount payable over the hire purchase term.
You need to know the principal amount, the rate and the time. Then a very simply formula for calculating interest is I = PRT where P is the principal amount, R is the interest rate and T is the period of time in years.
Explicit interest is the amount of money that is paid on a loan. This means that it is a fixed amount of interest.
The interest is 5980*1536/100*6 = 5597.28 And the total amount is 11577.28
Annual interest rate
To find the interest payment on a loan or investment, you can use the formula: Interest Principal x Rate x Time. The principal is the amount of money borrowed or invested, the rate is the interest rate, and the time is the duration of the loan or investment. Plug in these values to calculate the interest payment.
If the rate of annual interest is r% the period is n years and the amount invested is y Then the compound interest is y*(1+r/100)^n - y