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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.
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∙ 11y ago
karina lopez
Carter invested $200 in a savings bond that pays simple interest according to the formula below.
I = Prt
In the formula, I represents interest, P represents the money invested, or principal amount, r is the simple interest rate, and t represents the time, in years, that the money is invested.
If the savings bond pays 4% interest, how much interest will Carter earn after 6 years
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How much interest is earned on the account?
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%?
Solve simple investment problems using the simple interest rate method?
find the interest on $4000 at 3.5% annual interest for 1 year 6 months
How much interest will be earned on an investment of 8000 at 10 percent simple interest for 3 years?
$2400
When an investment pays only simple interest it means?
the interest rate is lower than on comparable investments
How do you figure out this math problem?
What is the amout of interest that will be earned on an investment of $8000 at 10% simple interest for 3 years
Suppose that you plan on investing into an account paying simple interest The formula for simple interest is I equals Prt where I is the interest earned on a investment of P dollars at the given rate?
No. I is as described for the stated period.
How simple interest and compound interest affect investment exercises?
Compound interest gives you more, but at a low interest rate (less than 10%), the difference is negligible.
Find the simple interest earned after 5 years on an investment of 2000 at 3.2 percent?
320
The concepts of simple interest and compound interest and how these affected the results of your investment exercise?
Simple interest (compounded once) Initial amount(1+interest rate) Compound Interest Initial amount(1+interest rate/number of times compounding)^number of times compounding per yr
A loan at 6 percent interest over 5 years What is the total output?
If the interest is simple interest, then the value at the end of 5 years is 1.3 times the initial investment. If the interest is compounded annually, then the value at the end of 5 years is 1.3382 times the initial investment. If the interest is compounded monthly, then the value at the end of 5 years is 1.3489 times the initial investment.
What is the simple interest expressions?
The amount of interest earned on an investment of C, for y years at r per cent is C*y*r/100.
Where can I find a simple interest calculator online?
There are many simple interest calculators online that you can find. I found the one at http://easycalculation.com/simple-interest.php to be simple and accurate.
