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How do you do simple interest?
I=PRT I=Interest P=Pecuniary(money) R= Rate(interest) T= Time
Draw a flow chart to calculate simple interest with 10 percent rate if time is greater than 2 yrs otherwise calculate simple interest with 5 percent?
Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.
What is the ordinary interest of a loan of 500 at a 7 percent annual interest rate if the loan was made on March 15 and is due May 15?
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
What is the formula for simple annual interest?
I= Prt I=interest P=principal r=rate t=time
What is the Simple Interest Formula?
I = prt where I = interest, p = principal, r = rate. and t = time in years.
The formula for ordinary interest using exact time is?
The formula for simple (ordinary) interest on a bank deposit is Deposit Amount x Rate x Time (# of days) on Deposit.
What is the Formula for simple interest rate?
The answer for rate in simple interest is =rate= simple interest\principle*time
Example of ordinary and exact interest?
example of ordinary interest
How do you find time in simple interest?
time(t)= interest/rate , princaple
Find the formula of simple interest?
the formula for simple interest is I=PRT (interest=principal x rate x time )
How do you calculate simple interest earned?
simple interest = principle (money) times the rate times the time
What is the simple interest on 642 for 7 years at 11 percent per annum?
$494.34 Interest= principal amount * time* simple interest %
How do you do simple interest?
I=PRT I=Interest P=Pecuniary(money) R= Rate(interest) T= Time
What is the amount of simple interest on 290000.00 at 5 over 10 years?
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.
Draw a flow chart to calculate simple interest with 10 percent rate if time is greater than 2 yrs otherwise calculate simple interest with 5 percent?
Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.
What is the formula for finding time when using simple interest?
time= interest/principal x rate likee yeahh thats it
What is the difference between ordinary interest and exact interest?
So ordinary interest is 30 days collecting or gathering interest on a dollar and exact is collecting or gathering 1 year interest on a dollar.
