Any time that the borrower and lender agree to.
Any time that the borrower and lender agree to.
Any time that the borrower and lender agree to.
Any time that the borrower and lender agree to.
The answer for rate in simple interest is =rate= simple interest\principle*time
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 ordinary interest, use the formula: Interest = Principal × Rate × Time. Here, the principal is $1,800, the rate is 12% (or 0.12), and the time is 2 months (or 2/12 years). Thus, Interest = 1,800 × 0.12 × (2/12) = $36. Therefore, the ordinary interest on $1,800 for two months at a 12% rate is $36.
I=PRT I=Interest P=Pecuniary(money) R= Rate(interest) T= Time
5.83$ === Solution Method: 1. "ordinary interest" = "simple interest" <-- which is the correct financial term to use. 2. 7% APR interest can be expressed in any increment that you wish, by dividing it by a specific period of time (e.g.: annually rate = .07/1, monthly rate = .07/12, weekly rate = .07/(365/7), daily rate = .07/365 3. In your case, you want to compute the interest for 2 month as follows: (.07/12) * 2 * 500$ = 5.83$ <-- this is the simple interest owed
The formula for simple (ordinary) interest on a bank deposit is Deposit Amount x Rate x Time (# of days) on Deposit.
The answer for rate in simple interest is =rate= simple interest\principle*time
example of ordinary interest
time(t)= interest/rate , princaple
the formula for simple interest is I=PRT (interest=principal x rate x time )
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.
simple interest = principle (money) times the rate times the time
Actuarial interest takes into account compounding over time, while simple interest does not consider compounding.
$494.34 Interest= principal amount * time* simple interest %
To calculate the ordinary interest, use the formula: Interest = Principal × Rate × Time. Here, the principal is $1,800, the rate is 12% (or 0.12), and the time is 2 months (or 2/12 years). Thus, Interest = 1,800 × 0.12 × (2/12) = $36. Therefore, the ordinary interest on $1,800 for two months at a 12% rate is $36.
I=PRT I=Interest P=Pecuniary(money) R= Rate(interest) T= Time
The simple interest in this case is $145,000. It is calculated by multiplying the amount by the interest rate and the length of time.