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How much simple interest is due on a loan of 1 200 for two years if the annual 1 rate of interest is 5.5 per cent?
To calculate the simple interest, use the formula: ( \text{Interest} = P \times r \times t ), where ( P ) is the principal amount, ( r ) is the annual interest rate, and ( t ) is the time in years. Here, ( P = 1200 ), ( r = 0.055 ) (5.5% expressed as a decimal), and ( t = 2 ). Thus, the interest is ( 1200 \times 0.055 \times 2 = 132 ). Therefore, the simple interest due on the loan is $132.
What else can I help you with?
How do you calculate the rate per cent per annam if there is an interest a principal and a time?
I = (P x T x R) / 100. This is simple interest.
What is the daily interst on the annual rate of 17.7 percent?
If the interest is compounded on a daily basis, for 365 days, the equivalent rate is 0.04466 per cent.
What amount a man would have received on a principle of rs 4000 after two years at simple interest at the rate of 5 per cent annul?
4000 x 1.05 = 4200 4200 x 1.05 = 4410
What is the value of a 3 per cent return on 172000 investment for ten years?
The interest earned is 59153.62
What does borrowing 20 thousand dollars at simple interest rate of 8.9 per cent for 72 months mean?
Simple interest is calculated: Interest= Principle X Rate X Time. In this case Interest= 20000 X .089 X 6 (72 months= 6 yrs) which equals $10680 in interest. You would owe/pay $30680 at the end of the 72 months.
What is the rate of interest if a sum of money doubles itself in 10 years at simple interest?
A simple interest rate of 10 per cent per year will double a sum of money in ten years.
How do you calculate effective interest rate of a simple interest of ten per cent for three years?
2(3)(10)/4 = 15%
1600 dollars is placed in an account with annual interest rate of 5.25%. How much will be in the account after 25 years, to the nearest cent?
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What is the simple interest expressions?
The amount of interest earned on an investment of C, for y years at r per cent is C*y*r/100.
How do you calculate the rate per cent per annam if there is an interest a principal and a time?
I = (P x T x R) / 100. This is simple interest.
What is the interest that a 510 deposit will earn in 3 months at 4.25 percent simple interest rounded to the nearest cent?
(5.1 x 4.25)/4 = 5.42
What is the daily interst on the annual rate of 17.7 percent?
If the interest is compounded on a daily basis, for 365 days, the equivalent rate is 0.04466 per cent.
How much would 300 invested at 4 percent interest compounded monthly be worth after 8 years round to the nearest cent.?
At 4% annual interest compounded monthly, it's 96 periods of 1/3% each.300 x (1.00333...)96 = 412.92 (rounded)
What amount a man would have received on a principle of rs 4000 after two years at simple interest at the rate of 5 per cent annul?
4000 x 1.05 = 4200 4200 x 1.05 = 4410
What is monthly interest rate if annual interest rate earned is 5 percent?
1/12th of 5% because there are 12 months in a year. ANSWER:- 1/60th per cent, which is the same as 0.01667 of the amount invested.
What is the value of a 3 per cent return on 172000 investment for ten years?
The interest earned is 59153.62
Find the simple interest. Round your answer to the nearest cent. Principal - 68200 Rate equals 9 percent Time in years equals 3?
68200*0.09*3=18414 note: have to move the rate to places over
