1000 / 7 = 142.85142 7's are in 1000
1000-7 = 993
0.007
7 7/1000
1000 + 7 = 1007
It is 7/1000.
Finishing capital = starting capital x (1 plus interest rate) to the power of the term. EG 1000 units at 5% over 7 years = 1000 x (1.05 to the power 7) Easiest way to do this is to use logarithms: 1000 x antilog (7 x log 1.05) = 1000 x antilog 0.1483251 = 1000 x 1.4071 = 1407.1 units This compares with simple interest where finishing capital would be 1350 units.
1000
7/1000 = 0.007
It is: 7/1000 times 100 = 0.7%
7 is 1000% of 0.7 7/0.7 * 100 = 1000
x^1000