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Which equation could you use to find the nth term of a simple interest sequence?
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Calculate the simple interest on a loan with a principal of 6000 an iterest of 7.39 percent and a term of four years?
To calculate simple interest, you use the formula: Interest = Principal x Rate x Time. In this case, the principal is $6000, the interest rate is 7.39% (or 0.0739 in decimal form), and the time is 4 years. Plugging these values into the formula gives: Interest = $6000 x 0.0739 x 4 = $1774.80. Therefore, the simple interest on the loan would be $1774.80.
How is simple interest calculated in banks?
They use the below formula: Interest per year = p * n * r / 100 P - amount you deposit N - number of years R - rate of interest If you substitute the numbers corresponding to the amount that you deposit, the number of years and rate of interest, you can get the actual interest amount
Ruiz invests 55 at a simple interest rate of 4 percent How much interest will he earn after 5 years?
Use the equation I= Prt P= Principal amount(starting)r= Rate as a decimalt=timeI = (55)(0.04)(5)= 11Therefore, he will earn $11 in interest after 5 years.
What is the ordinary interest of a loan of 500 at a 7 percent annual interest rate if the loan was made on March 15 and is due May 15?
5.83$ === Solution Method: 1. "ordinary interest" = "simple interest" <-- which is the correct financial term to use. 2. 7% APR interest can be expressed in any increment that you wish, by dividing it by a specific period of time (e.g.: annually rate = .07/1, monthly rate = .07/12, weekly rate = .07/(365/7), daily rate = .07/365 3. In your case, you want to compute the interest for 2 month as follows: (.07/12) * 2 * 500$ = 5.83$ <-- this is the simple interest owed
Two reasons why people use simple machines?
The two reasons why people use simple machines are because they make things easier to pull and lift.
How is simple interest useful in real life?
When you put money in the bank , they don't produce more , the use simple interest to charge you fees
How does a financial advisor use simple interest in their job?
you know they use stuff..
Where can I find some savings interest calculators?
This website has a really great calculator that is simple and easy to use. It also has some great advice about the best ways to save and choosing how often your interest in compounded. www.thecalculatorsite.com
Why do teenagers use alcohol?
This is a very simple question but a very hard one, too. Teens use alcohol for many reasons. Some use it to rebel. Some use it to deal with stress and anxiety. Some like the loopy feeling of intoxication. Some wish to harm themselves. Some only drink because their friends drink. There are many reasons teens use alcohol, but more reasons not to use alcohol.Answer: Drinking is simple,and fun. im 17 and i love to drink anything because it relaxs me and makes less nevous around others. Im myself after a shot or two;)
What are some Excel formulas that you might use or need if you were a financial planner?
Future value Present value Compound or simple interest Amortization/Depreciation
Which equation could you use to find the nth term of a simple interest sequence?
345
Pseudocode and flowchart for simple interest calculation?
begin enter Principal amount(Input) enter interest rate(Input) calculate simple interest(Computation/Processing) Display/Show/Print Give sound Simple Interest(output) end By Tomas Naxweka(Namibia)
Do most car dealers use simple interest loan calculators?
Yes most car dealers do use what is known as the simple car loan interest calculator. If the dealer you thinking of purchasing from has a webpage, most of these contain a calculator online as well.
Why you use count in simple interest program in c?
You mean 'count' as variable-name? It is optional.
How to use an online savings interest calculator ?
There are some simple interest calculators over the Internet. Try visiting Bank Rate, The Calculator Site and Nationwide. The work is easy. Just enter your basic data and it's all done.
Do simple machines use wires?
some simple machines do need wires and some dont
