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Interest earned on a billion dollars?
You can earn a lost of interest on a billion dollars. The amount of interest you will earn will depend upon your rate of interest and how long you leave it in the bank.
Why does compound interest earn more than simple interest?
With compound interest, in the second and subsequent periods, you are earning interest on the interest earned in previous periods. If you withdraw the interest earned at the end of every period, the two schemes will earn the same amount.
How is simple interested calculated differently from coupounded interest?
With compound interest the interest amount is added to the principle and then earns interest as well. This is usually expressed as an annual percentage rate (APR). Simple interest is not added to the principle and does not earn further interest and is used rarely.
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.
How much interest will you earn on 10 million dollars?
The amount of interest you earn on 10 million dollars varies greatly based on the type of investment being made. High return investments can yield over 10% while safer options are around 2 or 3%.
