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Q: What is ordinary time in simple interest?

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I=PRT I=Interest P=Pecuniary(money) R= Rate(interest) T= Time

Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.

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

I= Prt I=interest P=principal r=rate t=time

I = prt where I = interest, p = principal, r = rate. and t = time in years.

Related questions

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 )

simple interest = principle (money) times the rate times the time

$494.34 Interest= principal amount * time* simple interest %

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.

Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.

time= interest/principal x rate likee yeahh thats it

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.

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