0
Alright, listen up, honey. To solve simple investment problems using simple interest, you just need to multiply the principal amount by the interest rate and the time period. Add the interest to the principal, and voila, you've got your total amount. It's basic math, darling, nothing to lose sleep over.
Still curious? Ask our experts.
Chat with our AI personalities
Devin
Professor
Fran
Add your answer:
Earn +20 pts
What interest applies when interest for each year is based on the amount of the loan or investment?
When each interest calculation uses the initial amount, this is called Simple Interest. The other type is Compound Interest, which uses the current balance as the basis for interest calculation.
What approximate interest rate would an investor need to earn in order to double the value of an investment in six years?
Simple interest: 100/6 ie 16.67%
How to calculate compound interest using a monthly investment calculator?
A simple formula can be used to calculate the amount the dollar invested is worth over a monthly period. Use PV*(1+R)/N where PV is your present investment, R is your interest rate and N is the number of investment periods.
How much less interest is earned at 6 percent simple interest for 5 years on a 10000 investment than a 6 percent rate compounded daily for 5 years?
3000
How does simple and compound interest affect the result of your investment exercise?
it affects the result of your investment excercise by changing the percentage yearly! PS: Your working on your Personal Management Merit badge for trail to Eagle right?
