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Earn +20 ptsQ: How do you find the amount of interest?
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How do you find the percent paid on interest?
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
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
What is the equation to find compound interest?
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
Concering compound interest as the amount of principal increase the amount of interest paid decreases?
false
How do you calculate nominal interest rate?
Nominal interest, is the amount of interest on a loan or investment that does not take into account inflation; it's the amount of interest listed on the loan or bond.
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