0
you need an exponential function: y(x)=Ce^(kt), where
y(x) = interest earned
C = initial amount
k = rate (have to divide the percent by 100 to get the actual rate)
t = time
y(x)= 16000e^(.03*7) = $19738.85
if you want to know how much you have just add the initial amount and the interest earned, hope this helps =]
-ray
What else can I help you with?
If you invest 6000 dollars today ata nine percent interest rate what is the amount of interest after thirty years?
The total interest would be 73606.07 dollars, approx.
What is the interest on 3000 at 12 percent?
Simple interest would be 360
What is 13 percent interest on 8000?
Simple interest would be 1040
Does an increase of 4 percent in the interest rate result in a 4 percent increase in the total interest paid?
Not usually. A "4 percent increase in the interest rate" usually means that there is some reference interest rate of x percent that is increased to 4 + x percent. This means that the interest paid increases from x percent of the principal to 4 + x percent of the principal. Therefore, the interest paid increases by 100 (4/x) %. For example, if a recent Federal funds rate of 1 % in the United States were to be increased by 4 %, the interest paid on any given amount of principal would increase by 400 %!
How do you find the percent paid on interest?
You would first find the percent (if it was 5% interest (for example) on a calculator you would do the amount then multiply by 5, then click the percent, by hand: you would multiply the amount you paid for then multiply by 0.05 then you would get the interest; simple math :D
What times 5 percent equals 16000?
To find the number that, when multiplied by 5%, equals 16000, you need to divide 16000 by 5% (or 0.05). This calculation would be 16000 / 0.05 = 320000. Therefore, the number you are looking for is 320000.
How much is the 3 percent interest on 550 000?
It is 16,500. That would give you a total of 566,500.
If you invest 6000 dollars today ata nine percent interest rate what is the amount of interest after thirty years?
The total interest would be 73606.07 dollars, approx.
How much interest would i get each month on 148 million pounds?
Depending on the rate of interest which can vary from 2-4% per annum would be in the region of £8000-16000 daily
What is the interest on 3000 at 12 percent?
Simple interest would be 360
What is 13 percent interest on 8000?
Simple interest would be 1040
Does an increase of 4 percent in the interest rate result in a 4 percent increase in the total interest paid?
Not usually. A "4 percent increase in the interest rate" usually means that there is some reference interest rate of x percent that is increased to 4 + x percent. This means that the interest paid increases from x percent of the principal to 4 + x percent of the principal. Therefore, the interest paid increases by 100 (4/x) %. For example, if a recent Federal funds rate of 1 % in the United States were to be increased by 4 %, the interest paid on any given amount of principal would increase by 400 %!
How do you find the percent paid on interest?
You would first find the percent (if it was 5% interest (for example) on a calculator you would do the amount then multiply by 5, then click the percent, by hand: you would multiply the amount you paid for then multiply by 0.05 then you would get the interest; simple math :D
What is the total amount you would pay back on a simple interest loan with a principal of 10500 at 6.3 percent for five years?
13,807.50
What does 10 percent mean in money?
Ten percent in money means ten percent of the total amount. For example, if you borrow $5,000 at ten percent interest, $500 will be added to the total you owe because $500 is ten percent of $5,000. You would, therefore, have to pay $5,500 to pay the loan back in full.
How much would 6 percent interest be on 1000 compounded over four years?
Total = 1000(1+0.06)4 = 1262.48
What is the 16051 rounded to the nearest thousand?
16000
