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Q: What is the simple interest per year on a principal of 500 at a rate of 7 percent?
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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.


What is the simple interest for a loan with 500 principal 10 percent annual rate and a 2 year time period?

500 principal, 10 percent annual rate => 50 annual interest 2 year => 100 total interest.


If the principal is 350 and the interest rate is 3 percent what is the simple interest earned in one year simple interest P and times r and times t?

I


Calculate the simple interest on a loan with a principal of 6.000 an interest rate of 7.39 percent and a term of four years?

1,773.60


If the principal on a loan is 2455 and the interest rate is 3 percent and the simple interest amount is 441.90 how long will it take?

6 years


How is simple interest simalar to percent?

Simple interest is determined by multiplying the interest rate by the principal of the number of periods. Where, P is the loan and the amount is usually expressed as an annualized percentage.


What is the simple interest on a principal of 4200 invested at an interest rate of 8 percent for 3.5 years?

42 x 8 x 3.5 ie 1176


What is the simple interest for a principal of 450 invested at a rate of 8 percent for 2 years?

450*8/100*2 = 72


How do you do interest rate problems?

First you figure out the Principal, then you find the interest rate and then find the Time someone gave you to pay back loaned or borrowed money.Formula: Simple Interest= Principal*Rate*TimeExample: Principal-$25,000 Interest Rate- 6.25 simple interest- 6 years$25,000 x .0625 x 6= $9375!


Find the formula of simple interest?

the formula for simple interest is I=PRT (interest=principal x rate x time )


How do you solve interest rate math problems?

First you figure out the Principal, then you find the interest rate and then find the Time someone gave you to pay back loaned or borrowed money.Formula: Simple Interest= Principal*Rate*TimeExample: Principal-$25,000 Interest Rate- 6.25 simple interest- 6 years$25,000 x .0625 x 6= $9375!


What is the interest on 950 invested for 4 years in a account that earns simple interest at a rate of 3 percent per year?

Interest = Principal*Time*Rate = 950*4*3% = 950*4*3/100 = 114