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One thousand dollars is invested at 12 percent interest compounded monthly determine how much the investment is worth after 1 year?
1000 x (1.01)12 = $1126.83
Is simple interest at 4.25 percent better than compound interest at 4.25 percent?
Simple interest is the interest you earn on your principal, IE the amount of your original investment. For example, you put 1000 dollars in a saving account paying 3% per annum. At the end of the year you will have earned 30 dollars on that one thousand dollars. If you leave the principal and interest in the account for another year you will earn another 30.00 on your original 1000 dollars plus .90 interest. on the first 30.00 dollars interest. This gives you a total of 1060.90 in your second year. In each succeeding year you will earn interest on your interest plus interest on your original principal which, if left alone will add up to a substantial some given the power of compound interest. One caveat, compound interest is a double edged sword. If you have a loan and fail to make your monthly payments on time, compound interest will gut you financially.
What is the monthly interest rate if the annual interest rate is 18 percent?
1.5% monthly
How much monthly interest would you make from 50000 at 3 percent interest?
To calculate the monthly interest from an investment of $50,000 at a 3% annual interest rate, you first divide the annual rate by 12 months. This gives you a monthly interest rate of 0.25% (3% ÷ 12). Multiplying this monthly rate by the principal amount ($50,000) results in a monthly interest of $125.
How do you calculate monthly interest rate on an annual interest rate?
If not compounded monthly, a monthly interest rate is simply 1/12 of the annual rate. Things do get complicated, though if the interest is compounded monthly. An annual interest rate of R% is equivalent to a monthly rate of 100*[(1 + R/100)^(1/12) - 1] %
What is the monthly interest payment on 30 thousand dollars borrowed against a credit card with 30.0 percent apr?
$750 / month in interest rates.
What is the monthly interest payment on 10 thousand dollars borrowed against a credit card with 19.9 percent APR?
Your monthly payment, assuming you have quoted the interest rate correctly, should be $165.83 if you pay this off in one year (12 monthly payments)
Steve was charged sixty dollars interest for one month on a three thousand dollar credit card balance what was the monthly interest rate show your work?
60 divided by 3,000 = 2 %
One thousand dollars is invested at 12 percent interest compounded monthly determine how much the investment is worth after 1 year?
1000 x (1.01)12 = $1126.83
What is the average monthly payment on a motorcycle?
ROUGHLY $25.- PER THOUSAND DOLLARS OWED
What is the monthly payment for a seven year loan of 25 thousand dollars at 4 percent annually?
$465.97
What is average monthly house rent in Southern Illinois?
The average monthly rent is around 800 dollars a month for a 3 bedroom apartment. Near Chicago, the rent goes up to over a thousand dollars a month.
How much does a wedding planner make monthly?
A wedding planner makes around three thousand dollars monthly. If they have their own business and can handle more clients, they can make more.
What is the monthly interest payment on 5 thousand dollars borrowed against a credit card with 12.9 percent APR?
Multiply the principle by 1/12 of the interest to calculate how much interest you pay for that moth. Ex: 1/12 of 12.9% = 1.075% (same as .01075). 5000 X .01075 = 53.75 interest to pay for that month. Hence, the first 53.75 of your first payment is for interest alone.
Interest on maturity is better or monthly interest?
If you need a monthly income then obviously a monthly income is better. If the monthly interest is not withdrawn then it makes no difference because the annual interest rate is usually equal to the compounded monthly rate.
What is the monthly salary for a NASA astronaut?
The starting salary for a NASA astronaut is around $65,000 per year. Additional payments are made for spaceflights and training.
Is simple interest at 4.25 percent better than compound interest at 4.25 percent?
Simple interest is the interest you earn on your principal, IE the amount of your original investment. For example, you put 1000 dollars in a saving account paying 3% per annum. At the end of the year you will have earned 30 dollars on that one thousand dollars. If you leave the principal and interest in the account for another year you will earn another 30.00 on your original 1000 dollars plus .90 interest. on the first 30.00 dollars interest. This gives you a total of 1060.90 in your second year. In each succeeding year you will earn interest on your interest plus interest on your original principal which, if left alone will add up to a substantial some given the power of compound interest. One caveat, compound interest is a double edged sword. If you have a loan and fail to make your monthly payments on time, compound interest will gut you financially.
