0
Still curious? Ask our experts.
Chat with our AI personalities
Professor
Fran
LaoAdd your answer:
Earn +20 pts
Where can find the simple mathematical formula for calculating interest?
You need to know the principal amount, the rate and the time. Then a very simply formula for calculating interest is I = PRT where P is the principal amount, R is the interest rate and T is the period of time in years.
What is the formula for finding time when using simple interest?
time= interest/principal x rate likee yeahh thats it
If you only have 1500 to invest and the highest interest rate you can find is 3 percent compounded annually and you decide to wait 4 years to go on the trip how much money will you have to spend?
Also, I have to use the formula: Use the compound interest formula A = P (1 + i)n, where A is the accumulated amount, P is the principal, i is the interest rate per year, and n is the number of years.
Is the simple interest on 2000 for 2 years is 320 then what is the interest rate?
To calculate the interest rate, we can use the formula for simple interest: I = P * r * t, where I is the interest, P is the principal amount (2000 in this case), r is the interest rate, and t is the time in years (2 years). Given that the interest is $320, we can plug in the values to solve for r: 320 = 2000 * r * 2. Solving for r, we get r = 320 / (2000 * 2) = 0.08, or 8%. Therefore, the interest rate is 8%.
The formula for computing interest on a note is principal of the note times the annual interest rate times time expressed in years?
I = (P x T x R)/100
How do you calculate the principal and interest payment for a loan?
To calculate the principal and interest payment for a loan, you can use the formula: Payment Principal x (Interest Rate / 12) / (1 - (1 Interest Rate / 12)(-Number of Payments)). This formula takes into account the loan amount (principal), the interest rate, and the number of payments.
Where can find the simple mathematical formula for calculating interest?
You need to know the principal amount, the rate and the time. Then a very simply formula for calculating interest is I = PRT where P is the principal amount, R is the interest rate and T is the period of time in years.
How is the amount of interest earned on an investment calculated?
The amount of interest earned on an investment is calculated by multiplying the principal amount invested by the interest rate and the time the money is invested for. This formula is typically expressed as: Interest Principal x Rate x Time.
How to calculate and understand interest rates?
To calculate and understand interest rates, you need to know the principal amount, the interest rate, and the time period. The formula for simple interest is: Interest Principal x Rate x Time. To calculate compound interest, you can use the formula: A P(1 r/n)(nt), where A is the total amount, P is the principal, r is the annual interest rate, n is the number of times interest is compounded per year, and t is the number of years. Understanding interest rates involves knowing how they are calculated and how they impact the amount of money you will earn or owe over time.
How can I find the interest payment on a loan or investment?
To find the interest payment on a loan or investment, you can use the formula: Interest Principal x Rate x Time. The principal is the amount of money borrowed or invested, the rate is the interest rate, and the time is the duration of the loan or investment. Plug in these values to calculate the interest payment.
Find the formula of simple interest?
the formula for simple interest is I=PRT (interest=principal x rate x time )
In the formula for calculating interest the principal is multiplied by the rate and then multiplied by the?
time
How do you calculate fixed interest?
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000
Which formula determines the interest amount on a loan?
Current (principle balance) x (interest rate per year) x (amount of time). Examples: ~for calculating monthly interest, it would be (principle balance) x (interest rate) / 12. ~for daily interest, it would be (principle balance) x (interest rate) / 365.
How do you calculate fixed deposit interest?
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000
Adam put $100 in a savings account. After 10 years, he had 1649 the account. What rate of interest did he earn Use the formula A= Pe^rt where A is the ending amount P is the principal (initial amount)r is the interest rate and t is time?
28%
Which of these is the correct formula for calculating interest on a loan?
interest = prinsciabl x rate x time
