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I = P X R X T
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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.
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 many years does steven need to invest his 3000 at 7 percent tp earn 210 in simple interest?
Answer : 1 year The formula for calculating simple interest is I = PRT/100, where I = Interest, P = Principal Amount, R = Rate of Interest, T = Time. Then, 210 = 3000 x 7 x T/100 : 21000 = 21000T : Then T = 21000/21000 = 1
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.
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
What is the formula for simple annual interest?
I= Prt I=interest P=principal r=rate t=time
What is the Simple Interest Formula?
I = prt where I = interest, p = principal, r = rate. and t = time in years.
If a simple interest of 4.5 percent was paid at the end of the year then find the balance at the end of the year?
The formula for simple interest is Interest = Principal x Rate x Time ÷ 100 As the rate is an annual rate and the period is 1 year then Interest = Principal x 4.5/100. The balance at the year end = Principal + Interest = Principal x 104.5/100.
How do you figure out your total amount of money after interest?
It depends on whether it is simple or compound interest. The formula for simple interest is A = P(1+rt), where A = amount of money after t years, P = Principal, or the amount of money you started with, and r = the annual interest rate, expressed as a decimal (i.e. 7% = 0.07). For compound interest, the formula is A = P(1+r)t.
