Well
You want to calculate the interest on $1000 at 3.5% interest per month after 3 year(s).
The formula we'll use for this is the simple interest formula, or:
Where: P is the principal amount, $1000.00.
r is the interest rate, 3.5% per month, or in decimal form, 3.5/100=0.035.
t is the time involved, 3....year(s) time periods.
Since your interest rate is "per month" and you gave your time interval in "year(s)" we need to convert your time interval into "month" as well.
Do this by multiplying your time, 3 year(s), by 12, since there's 12 months in 1 year.
So, t is 36....month time periods.
To find the simple interest, we multiply 1000 × 0.035 × 36 to get that:
The interest is: $1260.00
Hope i could help
Answer: Associative property
Step-by-step explanation:
Answer: yes you are right hope this helped
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Step-by-step explanation:
The answer is a=7 because you have to do 7-6 which equals to 2 which a=7 is the right answer
Answer:
The initial amount a = 1
The growth or decay factor = 0.01025
Step-by-step explanation:
The exponential function.
y = 0.01025^x
The initial amount a = 1
The growth or decay factor = 0.01025
The exponential equation can be rewritten as Y = 1(0.01025)^x
