waht is the payment
waht is the payment
The formula for interest is I = rtP. Then r = I/tP, where t = 11/12. This calculates to a simple interest rate of 8.8 percent.
18750
1500
15000
15000
15000
If the interest is compounded annually, then the first interest payment isn't added until the end of the first year. Until then, the investment is worth exactly $15,000.00 .
5 yrs @ 7% = 35% in total. 35% of 15000 = 35 x 150 = 5250
1257
15000 INR for 3 months old pair
It depends on how often it is compounded. I'll figure monthly for you. If you invested 15000 for 6 years, at the end of 6 years it would be worth $20235.27
15000 = 15000/1