To calculate the interest earned on $269 at a rate of 10% per year over five years, you can use the formula for simple interest: Interest = Principal × Rate × Time. This gives you: Interest = $269 × 0.10 × 5 = $134.50. Therefore, the total interest earned over five years is $134.50.
$98.10 in interest is earned in the following year.Year One:$1000 x 0.09 = $90$1000 + $90 = $1090Year Two:$1090 x 0.09 = $98.10
To calculate the interest earned on $3,000 at a 7% annual interest rate over 4 years, you can use the formula for simple interest: Interest = Principal × Rate × Time. Plugging in the values: Interest = $3,000 × 0.07 × 4, which equals $840. Therefore, the total interest earned would be $840 over the 4-year period.
The formula ( A = P + I ) or ( A = P(1 + rt) ) is often represented in the context of simple interest, where ( A ) is the total amount of money accumulated after a certain time, ( P ) is the principal amount (the initial sum of money), ( r ) is the annual interest rate (in decimal), and ( t ) is the time the money is invested or borrowed for, in years. The term ( I = prt ) represents the interest earned over that time period. Thus, this formula is used to calculate how much interest will be earned or owed on a principal amount over a specified period.
The analytical answer is 1130.34 but banks are not likely to round up when it comes to paying you money so I would say 1130.33
$74.90
The interest table provides information about how much interest is earned or paid on a loan or investment over time, based on the principal amount and the interest rate.
$98.10 in interest is earned in the following year.Year One:$1000 x 0.09 = $90$1000 + $90 = $1090Year Two:$1090 x 0.09 = $98.10
A $5000 investment at an annual simple interest rate of 4.4% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?
To calculate the interest earned on $3,000 at a 7% annual interest rate over 4 years, you can use the formula for simple interest: Interest = Principal × Rate × Time. Plugging in the values: Interest = $3,000 × 0.07 × 4, which equals $840. Therefore, the total interest earned would be $840 over the 4-year period.
The formula ( A = P + I ) or ( A = P(1 + rt) ) is often represented in the context of simple interest, where ( A ) is the total amount of money accumulated after a certain time, ( P ) is the principal amount (the initial sum of money), ( r ) is the annual interest rate (in decimal), and ( t ) is the time the money is invested or borrowed for, in years. The term ( I = prt ) represents the interest earned over that time period. Thus, this formula is used to calculate how much interest will be earned or owed on a principal amount over a specified period.
depends on your bank.
The analytical answer is 1130.34 but banks are not likely to round up when it comes to paying you money so I would say 1130.33
An interest vs principal graph shows the relationship between the amount of money paid towards interest and the amount paid towards the principal balance of a loan over time. The interest portion decreases as the loan is paid off, while the principal portion increases. This graph helps visualize how much of each payment goes towards interest and how much goes towards reducing the loan balance.
To calculate the simple interest earned on Susan's savings account, use the formula: Interest = Principal × Rate × Time. Here, the principal is $800, the rate is 6% (or 0.06), and the time is 5 years. Therefore, Interest = 800 × 0.06 × 5 = $240.00. The correct answer is C) 240.00.
An amortization table is a schedule which breaks down your monthly repayments into principal and interest. You can use it to determine how much principal interest you will pay during your mortgage term.
Depends on the principal!