about how many years would it take for $1000 to become $2000 with an interest rate of 7.2
If it is not compounded the interest would be 2000x10x.05=1000 If it is compounded then it is different.
Simple interest = 1000 * 5/100 * 3 = 150
331/3 percent simple interest will double any amount in 3 years.
9.85 years, approx.
There are 52 weeks in a year. To find the number of years in 1000 weeks, you would divide 1000 by 52. This calculation equals approximately 19.23 years. Therefore, there are approximately 19 years and 3 months in 1000 weeks.
If it is not compounded the interest would be 2000x10x.05=1000 If it is compounded then it is different.
Total = 1000(1+0.06)4 = 1262.48
$1000 compounded at 10% annually over 86 years would be almost $4,000,000.
$150. 5% interest per $1000 is $50 per year. You had the loan 3 years- $50 x 3.
$150. 5% interest per $1000 is $50 per year. You had the loan 3 years- $50 x 3.
To find this figure you will have to multiply the interest rate to the initial $1000, and get the total. For each subsequent year, you will need to add the interest accrued from the year before and then multiply that total by the interest rate again. After 7 years, there would be $1445.06 in the account.
If you would have gotten 10% interest, your money would have doubled every 7 years.
1000 years
Total after 2 years = 1000*(1.08)2 = 1000*1.1664 =1166.40 So interest = Total - Inirial capital = 1166.40 -1000 = 166.40
1050*5/100
9% of 1000 is 9*1000/100 = 90. Since it is simple interest, it generates earnings of 90 each year, or 270 in 3 years.
Simple interest = 1000 * 5/100 * 3 = 150