Use the equation I= Prt P= Principal amount(starting)
r= Rate as a decimal
t=time
I = (55)(0.04)(5)
= 11
Therefore, he will earn $11 in interest after 5 years.
Assuming the interest is NOT compound - 3 years !
7% simple annual interest over 2 years = 14% total interest.14% of R528 = R73.92 .
You already gave the simple interest - 9 percent. Rethink and ask your question again.
Total simple interest = 2500*11/100*3 = 825
The simple interest on a loan of 5 700 at 5.3 percent for 4.5 years is 1359.45.
40 x 5 x 5 = 1000
9.85 years, approx.
Assuming the interest is NOT compound - 3 years !
Simple interest: 144Compound interest: 152.64
$48
19035 by simple interest
$494.34 Interest= principal amount * time* simple interest %
Simple interest = 1000 * 5/100 * 3 = 150
7% simple annual interest over 2 years = 14% total interest.14% of R528 = R73.92 .
You already gave the simple interest - 9 percent. Rethink and ask your question again.
Total simple interest = 2500*11/100*3 = 825
331/3 percent simple interest will double any amount in 3 years.