6% of 8000 per year = $480 per year
(10,000 - 8,000) = $2,000
$2,000 / $480 per year = [ 4 and 1/6th ] years
$22.50
The amount after the discount is $27.68
The least amount would be $0 at a 0.0% rate of interest - which does exist.
It is 240 currency units.
$494.34 Interest= principal amount * time* simple interest %
If you opened a savings account and deposited 5000 in a six percent interest rate compounded daily, then the amount in the account after 180 days will be 5148.
The total interest would be 73606.07 dollars, approx.
The amount of interest that will be paid over 4 years on 1 million dollars is $145,419.75. This figure is configured with an interest rate of 7 percent. The amount can change based on amortization of the loan.
249.88 dollars
13468.02
Let A = amount balance after 5 years = Rs 30,000 r = 10% = 0.1 t = 5 years P = amount deposited A = Pert 30,000 = Pe(0.1)(5) 30,000 = Pe0.5 30,000/e0.5 = P 18,195.92 = P The amount deposited was Rs 18,195.92.
Principle: is the beginning amount of money that is deposited or owed. For instance, you deposit $100 or you take on a loan that is worth $100. The $100 is your principle amount. Interest: Is the cost of borrowing. The higher principle, the higher interest payment you will have to pay because the interest due is a percent of the Principle.
If you deposited $225 in a bank account that earns 6 percent annually, the interest earned in one year would be calculated by multiplying the principal amount by the interest rate. This can be calculated as follows: $225 x 0.06 = $13.50. Therefore, the account should earn $13.50 in interest per year.
If compounded and assuming the amount was 3180 dollars, it would be 784 dollars.
Newly deposited amount: 364 dollars Current Bank balance: 500 dollars Previous balance:? Previous balance = current balance - newly deposited amount = 500 - 364 = 136 Franklin had 136 dollars in his account before he made the 364 dollar deposit
The total amount to be repaid on a one-year term loan of 500 dollars with an interest rate of 12 percent depends on how often it is compounded. If it is only compounded once during the year, you will owe 560 dollars after one year.
The original amount deposited is referred to as the principal in a savings context, while in a borrowing scenario, it is the amount borrowed from a lender. In both cases, the principal is the base amount on which interest is calculated. Therefore, whether it is deposited or borrowed depends on the financial context in which the term is used.