Step 1: Multiply the Principal, which is the amount borrowed, by the interest rate.
Step 2: Compute compound interest using the following formula: A= P(1+r/n)
Hope this helps u
1.) 2000 2.) 680000 3.) .0000007 4.) .00135 5.) 3062000 6.) 7x10^5 7.) 3.2x10^7 8.)4.5x10^-2 9.)3.46781x10^-5 10.) 1.3x10^18
Leslie did. If you multiply 4/5 by two, you get 8/10. 8/10 is greater than 7/10.
6%
You want to calculate the interest on $12000 at 6% interest per year after 5 year(s).
The formula we'll use for this is the simple interest formula, or:
Where:
P is the principal amount, $12000.00.
r is the interest rate, 6% per year, or in decimal form, 6/100=0.06.
t is the time involved, 5....year(s) time periods.
So, t is 5....year time periods.
To find the simple interest, we multiply 12000 × 0.06 × 5 to get that:
The interest is: $3600.00
