4.75 percent of 900 is 42.75 .
A few pennies more if the interest is compounded at any time during the year.
For example, if interest is compounded every month, then you have 43.69
at the end of the year.
In simple interest, 50,000 would earn 1,500 in one year.
You would earn 1750.
20,000
You will earn 1000000*4/100 = 40000.
It would be $50,000 if it is computed once a year.
In simple interest, 50,000 would earn 1,500 in one year.
You would earn 1750.
20,000
You will earn 1000000*4/100 = 40000.
$2500
It would be $50,000 if it is computed once a year.
5 million
$450.
2500
2500
100
3.5% of 40,000 = 40,000*3.5/100 = 1400