All categories

4 years ago

How do u do simple interest rate

Mathematics

1 answer:

Arada [10]4 years ago

8 0

Explanation

Find an interest by using the formula I=P⋅i⋅t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.

In this example P = $2800, i = 1.2% and t = 5 years, so

III=P⋅i⋅t=2800⋅0.012⋅5=168

Step-by-step explanation:

You might be interested in

Write the next two terms in each of the following A.P's : 1. 3,6,9.... 2. -2,0,2...

topjm [15]

Answer:

Below.

Step-by-step explanation:

1. The common difference is 3 so the next 2 terms are 12 and 15.

2.. The common difference is 2 so the next 2 terms are 4 and 6.

3 0

2 years ago

Read 2 more answers

What is 4,000 divided by 18?

g100num [7]

4,000\18

0.0045
4.5
or

222.222222222

2.2

8 0

3 years ago

What is the answer to this two step equation? 5 + 10c -140

liubo4ka [24]

Answer:

10c-135

Step-by-step explanation:

5+10c-140

10c+5-140

10c-135

3 0

4 years ago

Name each ray Calculation Tip: In ray "AB", A is the endpoint of the ray.

Vanyuwa [196]

Answer:

XY→

Step-by-step explanation:

The ray is name from the point to the arrow

XY→

3 0

3 years ago

Read 2 more answers

When you graduate college at the age of 20, you want to start saving up for retirement. If your investment pays a fixed APR of 9

Dominik [7]

Answer-

You need to deposit $337.62 each month, to reach this goal.

Solution-

We know that,

$\text{FV of annuity}=P[\frac{(1+r)^n-1}{r}]$

Where,

P = periodic payment

r = rate per period

n = number of period

Here,

$FV\ of\ annuity=2,500,000,\\\\P=?,\\\\r = 9\%\ annually=\frac{9}{12}\%\ monthly=\frac{9}{1200}\ monthly\\\\n=45\ years=45\times 12=540\ months$

Putting the values,

$\Rightarrow 2500000=P[\frac{(1+\frac{9}{1200})^{540}-1}{{\frac{9}{1200}}}]$

$\Rightarrow P=\frac{2500000}{[\frac{(1+\frac{9}{1200})^{540}-1}{{\frac{9}{1200}}}]}$

$\Rightarrow P=\frac{2500000}{\frac{56.5365-1}{0.0075}}$

$\Rightarrow P=\frac{2500000}{\frac{55.5365}{0.0075}}$

$\Rightarrow P=337.62$

4 0

3 years ago

Read 2 more answers