Simple interest I=Prt = (5000)(0.07)(2) = $700.
Compound interest: A=P(1+r)t = 5000(1.07)2 = 5000(1.1449) = $5,724.50;
I=A-P = 5,724.50 - 5000 = $724.50
6 years
That would depend on the original principal (the amount you borrowed) and how they compute interest.
441
3000
Interest for 1st year = $6 Principal after 1 year = $206 Interest for 2nd year = $6.18 Principal after 2 year = $212.18 Total Interest earned after 2 years = $12.18
1282.5
$494.34 Interest= principal amount * time* simple interest %
6 years
Rs 80.
That would depend on the original principal (the amount you borrowed) and how they compute interest.
441
13,807.50
3000
Interest for 1st year = $6 Principal after 1 year = $206 Interest for 2nd year = $6.18 Principal after 2 year = $212.18 Total Interest earned after 2 years = $12.18
Principal = 30/[1.042 - 1] = 367.65
1,773.60
Fixed deposit interest is calculated using the simple interest concept Interest = (principal * no. of years * rate of interest) / 100 principal = the amount you deposited rate of interest = the amount in % Ex: Deposit amount - 10,000 Rate of interest = 10% no of days = 365 Interest = (10000 * 365 * 10) / (365*100) = 1000