Take the annual interest rate, divide it by 2 and multiply it by the amount you invested or borrowed.
54
7% of 3,000 for 6 month
13
It is 6%, as 360 is earned each year.
200
find the interest on $4000 at 3.5% annual interest for 1 year 6 months
Eleven..? months? years?. Simple or compound interest?
54
.5
21.28
Simple interest is calculated: Interest= Principle X Rate X Time. In this case Interest= 20000 X .089 X 6 (72 months= 6 yrs) which equals $10680 in interest. You would owe/pay $30680 at the end of the 72 months.
Simple interest 140.00, compound interest (where interest is added to the previous months interest) 140.45
7% of 3,000 for 6 month
13
First you figure out the Principal, then you find the interest rate and then find the Time someone gave you to pay back loaned or borrowed money.Formula: Simple Interest= Principal*Rate*TimeExample: Principal-$25,000 Interest Rate- 6.25 simple interest- 6 years$25,000 x .0625 x 6= $9375!
7.5 x 2.5 ie 18.75
First you figure out the Principal, then you find the interest rate and then find the Time someone gave you to pay back loaned or borrowed money.Formula: Simple Interest= Principal*Rate*TimeExample: Principal-$25,000 Interest Rate- 6.25 simple interest- 6 years$25,000 x .0625 x 6= $9375!