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If your travel costs 2000 and you have 1500 and you invest this money at 3 percent interest rate compounded annually how long will it take to earn enough money for the trip?
Also, I have to use the formula: Use the compound interest formula A = P (1 + i)n, where A is the accumulated amount, P is the principal, i is the interest rate per year, and n is the number of years.
What property of multiplication do you use with money?
All the properties of multiplication may be used with money.
Where do you use statistics?
money, finance,etc
What do we use interest calculations for?
We use interest calculations to make valid comparisons among amounts of cash paid or received at different times.
How do banks use math?
the banks use math so they can get their pay and count money
Is the amount of money paid or earned for the use of money?
Interest is earned or paid for the use of money
The amount paid or earned for the use of money?
simple intrest
Which concept does Adam smith use to describe the amount of money commonly paid for commodity?
Market price
What concepts does Adam smith use to describe the amount of money commonly paid for any commodity?
Market price
Which concept does Adam Smith use to describe the amount of money commonly paid for any commodity?
Market price
Is money paid for the use of money?
Interest.
Why does paid in capital and earned capital need to be kept separate?
Paid in Capital is the amount of investment a shareholder has contributed to the business for use and earned capital is the amount of profit that has been generated by the business itself. It must be separate for investor and shareholder information so that the difference between the two can be clearly stated.
What is another name for the rent paid to use someone else's money?
rent paid for the use of money is called what?
What is money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
What is the money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
The price paid for the use of money is?
Interest.
What does a bank charge you when you borrow money from it?
When you borrow money from a bank, you are charged interest. interest is a fee for the use of someone else's mony and is usually a percentage of the amount of money borrowed. It is charged and paid each month, week, or day on the amount of borrowed money that has not yet been repaid.
