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Earn +20 ptsQ: Where can find the simple mathematical formula for calculating interest?
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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.
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