I = prt <-- formula for simple interest, but the rate must be the monthly rate for your problem. Per month means one month (time, t)
4% = 0.04 is an anual interest rate .... monthly rate (r) = 0.04/12
so... I = 40,000 x 0.04/12 x 1 --- multiply and divide to get the answer.
Another way: find anual interest, then divide by 12 for monthly interest.
You will earn 1000000*4/100 = 40000.
3 percent of 170 is 5.10
It would come out to about $250 a month at 1% per annum.
15% of 40,000 = 6,000
40000 ÷ 100 × 2 = 800
You will earn 1000000*4/100 = 40000.
3 percent of 170 is 5.10
400
40000
3% of $40,000= 33% * 40000= 0.33 * 40000= $13,200
It would come out to about $250 a month at 1% per annum.
40000
15% of 40,000 = 6,000
11000*6/100 = 6606% per month is an outlandish interest rate - equivalent to more than 100 percent annually.11000*6/100 = 6606% per month is an outlandish interest rate - equivalent to more than 100 percent annually.11000*6/100 = 6606% per month is an outlandish interest rate - equivalent to more than 100 percent annually.11000*6/100 = 6606% per month is an outlandish interest rate - equivalent to more than 100 percent annually.
40000 ÷ 100 × 2 = 800
10% of 40000 is 4000 (divide it by 10) so half of that is 2000 (10 divided by 2 is 5)
About 5000-40000 it depend on how successful you are.