42
The formula for interest is I = rtP. Then r = I/tP, where t = 11/12. This calculates to a simple interest rate of 8.8 percent.
2.75 percent
Assuming that the interest rate is 9.75% per year, the answer will depend on how often the interest is compounded.
0.04849%
0.67 percent
The Discover Student More card offers and introductory 0 percent interest rate for up to 6 months. After that, the interest rate is variable at 13 percent on up to 20 percent for purchases.
1168.21
Multiply the monthly interest rate by the number of months is a year to calculate the annual interest rate: 2% x 12mo = 24%
3 months
To calculate the ordinary interest, use the formula: Interest = Principal × Rate × Time. Here, the principal is $1800, the rate is 12% (or 0.12), and the time is 2 months (which is 2/12 years). Thus, the interest is: Interest = $1800 × 0.12 × (2/12) = $36. So, the ordinary interest on $1800 for two months at a 12% rate is $36.
To calculate the interest paid on a loan of $800 at a 5 percent annual interest rate for 9 months, you can use the formula: Interest = Principal × Rate × Time. Here, the time should be in years, so 9 months is 0.75 years. Thus, the interest is $800 × 0.05 × 0.75 = $30. Therefore, the interest paid for the loan is $30.
The formula for interest is I = rtP. Then r = I/tP, where t = 11/12. This calculates to a simple interest rate of 8.8 percent.
To calculate the interest earned on a $5,000 CD at an interest rate of 1.4% over 18 months, you can use the formula: Interest = Principal × Rate × Time. Here, the time is 1.5 years (18 months). So, Interest = $5,000 × 0.014 × 1.5 = $105. Therefore, the CD will earn $105 in interest over 18 months.
$1.25
The inflationary premium can be calculated by subtracting the real rate of interest from the nominal interest rate. In this case, if the money rate of interest is 10 percent and the real rate is 7 percent, the inflationary premium is 10% - 7% = 3%. Therefore, the inflationary premium is 3 percent.
$60.00
To calculate the monthly interest from an investment of $50,000 at a 3% annual interest rate, you first divide the annual rate by 12 months. This gives you a monthly interest rate of 0.25% (3% ÷ 12). Multiplying this monthly rate by the principal amount ($50,000) results in a monthly interest of $125.