0
You have failed to tell us to what period of time the 9½% interest is applied - is it Yearly, Monthly, Daily (if only - I can but dream).
I will guess that it is 9½% APR simple interest.
With Simple Interest, the interest is gained only on the capital and not any interest reinvested.
→ 1 year's interest is 9½% of 3500 = 9.5/100 × 3500 = 332.50
→ 1½ years interest = 1½ × 1 year's interest = 1.5 × 332.50 = 498.75
What else can I help you with?
What is the total amount if you deposit 500 at a rate of 5 percent for two years using simple interest?
5 percent means you get (0.05 x 500) = $25 per year, assuming simple interest.Over 2 years, you get $50 interest. Plus, of course, you should also get your $500 back.
What is the simple interest for a loan with 500 principal 10 percent annual rate and a 2 year time period?
500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.
Dante wants to buy a new sound system for his room He borrows 500 from his older sister and agrees to pay her 6 percent simple annual interest How much interest will Dante owe at the end of 3 years?
500*6/100*3 = 90
What is 500 plus a 3 percent interest?
500 + 3% = 515
How much would 500 invested at 5 percent interest compounded annually be worth after 10 years?
814.45
Simple interest for Rs5000 at the rate of 5 percent for 2 years is?
Rs 500
What is the total amount if you deposit 500 at a rate of 5 percent for two years using simple interest?
5 percent means you get (0.05 x 500) = $25 per year, assuming simple interest.Over 2 years, you get $50 interest. Plus, of course, you should also get your $500 back.
Future Value of 500 if invested for 5 years at a 4 percent interest rate?
Simple interest, 500 + (5 x 5 x 4) = 600. Compound 500 x 1.04^5 = 632.66
What is the simple interest per year on a principal of 500 at a rate of 7 percent?
35
How it will take for 1700 to amount to 2200 at 7.7 percent simple interest?
-- You want it to earn (2,200 - 1,700) = 500-- 500 is 5/17 = 29.41% of the original 1,700.-- At 7.7% simple interest, it will earn 29.41% in 29.41/7.7 = 3.82 years.(The interest payment at the end of the 4th year puts it over the top.)
What is the simple interest for a loan with 500 principal 10 percent annual rate and a 2 year time period?
500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.
How much have the interest rates on mortgages changed in the last five years?
Five years ago, the interest rates on mortgages was only at 0.5 percent. As of today, interest rate on mortgage soared to 2.5 percent. That is 500 percent increase for the past five years.
Dante wants to buy a new sound system for his room He borrows 500 from his older sister and agrees to pay her 6 percent simple annual interest How much interest will Dante owe at the end of 3 years?
500*6/100*3 = 90
How much would 500 invested at 6 percent interest compounded anually be worth after 12 years?
$500 (1.06)12 = $1,006.10
What is 500 plus a 3 percent interest?
500 + 3% = 515
How much would 500 invested at 8 percent interest compounded continuously be worth after 3 years?
635.61
How much would 500 invested at 5 percent interest compounded annually be worth after 10 years?
814.45
