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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
What is the simple interest the rate if the interest is 1210 the principle is 15000 and the time is 11 months?
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.
What is the formula for a simple compound interest rate?
Simple Interest = p * i * n p is principle and i is interest rate per period and n is the number of periods. A = P(1 + r)n is for compound interest.
What is the formula for finding time when using simple interest?
time= interest/principal x rate likee yeahh thats it
What is the calculation for a simple compound interest rate?
There is simple interest and there is compound interest but this question is the first that I have heard of a simple compound interest.
When calculating simple interest you should first?
When calculating simple interest, you should first
What is the correct formula for calculating interest on a loan?
The correct formula for calculating interest on a loan depends on whether it is simple or compound interest. For simple interest, the formula is ( I = P \times r \times t ), where ( I ) is the interest, ( P ) is the principal amount, ( r ) is the annual interest rate (in decimal), and ( t ) is the time in years. For compound interest, the formula is ( A = P (1 + \frac{r}{n})^{nt} ), where ( A ) is the total amount after interest, ( n ) is the number of times interest is compounded per year, and the other variables are as previously defined.
Definition of simple interest?
Simple interest is a term that is used for quickly calculating the interest charge on a loan.
what is the formula of simple interest?
The formula for simple interest is: A=P(1+rt)
Which programming language can be used for calculating area of a polygon?
Any of them. Calculating the area of a polygon is a relatively simple mathematical task.
What is simple interest?
Simple interest does not compound. In other words, If you start off with $500 and get $5 in interest, the $5 you got in interest will not be included when calculating the amount of interest you will get next year. Simple interest can be calculated by the formula i = prt, where i is the amount of money earned from the interest, p is the principle (starting money), r is the rate (as a decimal,) and t is the time in years. Another formula is used to calculated the accumulated amount: A = p(rt + 1), where A is the accumulated amount.
Find the formula of simple interest?
the formula for simple interest is I=PRT (interest=principal x rate x time )
What is the formula for calculating the melting point of a substance?
The formula for calculating the melting point of a substance is not a simple mathematical equation, as it depends on various factors such as the chemical composition and structure of the substance. The melting point is typically determined experimentally by heating the substance and observing the temperature at which it changes from a solid to a liquid state.
What is the Formula for simple interest rate?
The answer for rate in simple interest is =rate= simple interest\principle*time
What should you do first when calculating simple interest?
change the percent to a decimal
What is k x p x t r x 100 x 365?
It is an algebraic expression. It resembles the formula for calculating the simple interest, but there are several discrepancies.
What do you need to do when calculating interest?
When calculating interest, you need to determine the principal amount (the initial sum of money), the interest rate (expressed as a percentage), and the time period for which the interest will be calculated. Depending on whether you're calculating simple or compound interest, you would apply the appropriate formula: for simple interest, use ( I = P \times r \times t ), and for compound interest, use ( A = P(1 + r/n)^{nt} ), where ( A ) is the total amount, ( n ) is the number of times interest is compounded per time period, and ( t ) is the number of time periods. Finally, ensure all units are consistent, such as time being in years or months as applicable.
