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Subjects>Math>Math & Arithmetic

How do you solve interest when it is not compound?

GavinStrain ∙

Lvl 1

∙ 9y ago

Updated: 12/8/2022

This is called Simple Interest. The formula is

A= P(1+rt)

where P is the Principal, r is the Rate and t the time in years.

eg $1000 at 4% over 5 years

A=1000 (1+0.04*5) where * means multiply

= 1000 (1.20)

= $1200

Wiki User

∙ 9y ago

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What are the major differences between compound interest loan and simple interest loan?

With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.

What are some of the uses of compound interest in business?

compound interest increases interest more than simple interest

To solve a problem for a 9th standard student in compound interest?

A man Iinvests 5000 for 2 years at compound intrest. After 1 year his money amounts to 5150. Find the intrest for the second year.

Interest earned on interest is known as?

Compound Interest

Is the annual interest rate the same as simple interest?

Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.

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Related Questions

How do you solve compound interest formula for n?

It depends on which compound interest formula you mean. Refer to the Wikipedia Article on "Compound Interest" for the correct terminology.

Which type of interest is calculated by adding the interest earned to the principal?

compound... yes it is compound interest.

What are the major differences between compound interest loan and simple interest loan?

With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.

What is the calculation for a simple compound interest rate?

There is simple interest and there is compound interest but this question is the first that I have heard of a simple compound interest.

Is the interest accrued on a student loan simple or compound interest?

its compound interest

What are some of the uses of compound interest in business?

compound interest increases interest more than simple interest

To solve a problem for a 9th standard student in compound interest?

A man Iinvests 5000 for 2 years at compound intrest. After 1 year his money amounts to 5150. Find the intrest for the second year.

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WHAT does the carrot in the formula for compound interest means?

There is no carrot in the compound interest formula!

What is earning interest on interest called?

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Interest earned on interest is known as?

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