Assuming simple interest, you multiply the capital times the interest rate times the number of years.
$494.34 Interest= principal amount * time* simple interest %
120
Invest at an amount of 200000 at a bank that offers an interest rate of 7,6%p.a Compounded annually for a period of 3 years
To calculate the total amount after 10 years at a simple interest rate of 20% per annum, you need to consider that the interest is added to the principal each year. The sum will be multiplied by 1.2 (100% + 20%) each year for 10 years. Therefore, the sum will be multiplied 10 times over the course of 10 years.
S.I. = (P x R x T)/100 where R is rate, T is time, P is Original sum and S.I. is simple interest. 800x100 = P x R x T P = 80000/(5x7) = 80000/35 = 2285.71 So, the original sum is Rs 2285.71
$494.34 Interest= principal amount * time* simple interest %
Rs 80.
It is 41575.40
5 years
30 years
It depends on whether the 4% interest is per annum or for 8 years altogether. Also, you have to see if it is a simple interest or compounded interest.
120
It will grow to nine eighths of the original sum.
If the 3% is "simple" interest, then the $100 earns an extra $18 in 6 years. If the interest is compounded yearly, then it earns $19.41 extra. If the interest is compounded weekly, then it earns $19.72 extra.
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
Invest at an amount of 200000 at a bank that offers an interest rate of 7,6%p.a Compounded annually for a period of 3 years
To calculate the total amount after 10 years at a simple interest rate of 20% per annum, you need to consider that the interest is added to the principal each year. The sum will be multiplied by 1.2 (100% + 20%) each year for 10 years. Therefore, the sum will be multiplied 10 times over the course of 10 years.