Answer:
I = $ 1,937.50
Equation:
I = Prt
Calculation:
First, converting R percent to r a decimal
r = R/100 = 3.875%/100 = 0.03875 per year,
then, solving our equation
I = 10000 × 0.03875 × 5 = 1937.5
I = $ 1,937.50
The simple interest accumulated
on a principal of $ 10,000.00
at a rate of 3.875% per year
for 5 years is $ 1,937.50.
Step-by-step explanation:
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Answer:
40.25
Step-by-step explanation:
multiple 35 by 1.15
The formula for simple interest for months is I=P * (r / m) * n. Where P is the principle and r is rate and m is the year or 12 months and n equals how many months.
I=300 * (0.068 / 12) * 6 = 10.2
So the interest would be $10.2
The bank that offers compound interest should get Riley more money.
let's assume he puts 10,000 in each account, and he is saving for 10 years.
the account that gives him simple interest will give him .045 * 10,000 * 10 = 4500 in interest, which gives him a total of 14,500 at the end of 10 years.
the account that gives him annual compound interest will give him 10,000 * 1.045 ^ 10 = 15,529.69422 at the end of the 10 years.
the difference is that he is earning interest on his interest in the annual compound account, while he is only earning interest on his principal in the simple interest account.
Hope this helps. Good luck !!
Answer:
You can easily be employed in the future
you can be in any profession such as bank accountant,trader, manager at business etc
Step-by-step explanation:
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