If the interest is compounded annually, then the first interest payment isn't added until the end of the first year. Until then, the investment is worth exactly $15,000.00 .
7% of 3,000 for 6 month
1/12th of 5% because there are 12 months in a year. ANSWER:- 1/60th per cent, which is the same as 0.01667 of the amount invested.
Take the annual interest rate, divide it by 2 and multiply it by the amount you invested or borrowed.
of course it is 290 dollars
Semiannually over two years is equivalent to 4 periods. If the interest is 12% every 6 months, then the amount of interest is It is 8000*[(1.12)4 -1] =4588.15
6% of 500 dollars is 30 dollars - whether it is over 12 months or a micro-second.
15,000*0.0425*5/12 = 265.625 unless it is compounded on a daily basis.
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Interest is normally paid over 12 months.So after 12 months at 2.99%, 29.90 dollars would be paid.
Eleven..? months? years?. Simple or compound interest?
.05% or 1/20th of a percent
The Discover Student More card offers and introductory 0 percent interest rate for up to 6 months. After that, the interest rate is variable at 13 percent on up to 20 percent for purchases.
If every six months the capital earn 10% interest which is compounded, at the end of 5 years, the interest will be 31875. If the annual interest rate is 10%, it makes no difference how often it is compounded. The six monthly interest rate is adjusted - to 4.88% rather than 5% - so that the total interest for a year is 10%.
Multiply the principal (P) by the annual* interest rate as a decimal (r) and the time in years* (t). *The time period may be expressed in months, etc. For example, $2000 invested at 7% simple interest for 5 years: I = Prt = 2000x0.07x5 = 140x5 = $700.