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What is the Formula for simple interest rate?
The answer for rate in simple interest is =rate= simple interest\principle*time
Find the ordinary interest on 1800 for two months at the rate of 12 percent?
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 $36.
How do you do simple interest?
I=PRT I=Interest P=Pecuniary(money) R= Rate(interest) T= Time
What is the ordinary interest of a loan of 500 at a 7 percent annual interest rate if the loan was made on March 15 and is due May 15?
5.83$ === 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
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%.
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 difference between actuarial interest and simple interest?
Actuarial interest takes into account compounding over time, while simple interest does not consider compounding.
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 $145,000. It is calculated by multiplying the amount by the interest rate and the length of time.
What is the ordinary interest of a loan of 500 at a 7 percent annual interest rate if the loan was made on March 15 and is due May 15?
5.83$ === 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
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%.
