Interest = (Principal x Time X Rate)/100 so in this case interest = (1000 x 3 x 9)/100 = 2700/100 = 27
300 :D
Let P be the amount of invested money. Then, .08P = 336 P = 336/.08 = 4,200
She will have to wait 4 years.
450*8/100*2 = 72
A simple formula can be used to calculate the amount the dollar invested is worth over a monthly period. Use PV*(1+R)/N where PV is your present investment, R is your interest rate and N is the number of investment periods.
A $5000 investment at an annual simple interest rate of 4.4% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?
72
20, assuming annual compound interest, 24 if simple interest.
$2400
300 :D
1 year
320
Multiply the principal (P) by the annual* interest rate as a decimal (r) and the time in years* (t). *The time period may be expressed in months, etc. For example, $2000 invested at 7% simple interest for 5 years: I = Prt = 2000x0.07x5 = 140x5 = $700.
116
Let P be the amount of invested money. Then, .08P = 336 P = 336/.08 = 4,200
42 x 8 x 3.5 ie 1176
1282.5