Answer:
so your initial investment would be $200 correct
so if you do the 2% interest rate
so you would have earned $1,261
and if you want to double check go on an instant rate calculator and it should pull it up
Answer:
9.20
Step-by-step explanation:
8.00 x 15% = 1.20
Answer:
A = $996.00
Step-by-step explanation:
(I = A - P = $196.00)
Equation:
A = P(1 + rt)
Where:
A = Total Accrued Amount (principal + interest)
P = Principal Amount
I = Interest Amount
r = Rate of Interest per year in decimal; r = R/100
R = Rate of Interest per year as a percent; R = r * 100
t = Time Period involved in months or years
From the base formula, A = P(1 + rt) derived from A = P + I and I = Prt so A = P + I = P + Prt = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 7%/100 = 0.07 per year.
Solving our equation:
A = 800(1 + (0.07 × 3.5)) = 996
A = $996.00
The total amount accrued, principal plus interest, from simple interest on a principal of $800.00 at a rate of 7% per year for 3.5 years is $996.00.
It can be too late to save for retirement. You want to begin saving at least 45 years before you plan to retire.
<h3>When to start savings for retirement?</h3>
Retirement is when labour stops working at a regular job. When a person retires, they would have a reduced source of income. This is why it is important to save for retirement. The earlier one starts to save for retirement, the more money the person would have when they retire.
To learn more about retirement, please check: brainly.com/question/20751552
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The hourly rate would be $14
