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What is the future value of a 5-year ordinary annuity?
The future value of a 5-year ordinary annuity can be calculated using the formula: ( FV = P \times \frac{(1 + r)^n - 1}{r} ), where ( P ) is the payment per period, ( r ) is the interest rate per period, and ( n ) is the number of periods. This formula accounts for the compounding interest on each payment made at the end of each period. To find the specific future value, you would need to know the payment amount and the interest rate.
What is formula for calculate maturity amount?
The maturity amount for a fixed deposit or investment can be calculated using the formula: [ A = P(1 + r/n)^{nt} ] where ( A ) is the maturity amount, ( P ) is the principal amount (initial investment), ( r ) is the annual interest rate (in decimal), ( n ) is the number of times interest is compounded per year, and ( t ) is the number of years the money is invested or borrowed. For simple interest, the formula is ( A = P(1 + rt) ).
How do you calculate your mortgage payment?
Most mortgage payments can be calculated using this formula. Some mortgages are different based on specific agreements with a bank.This formula is complicated due to ""compounding interest"".Let's define ""i"" as your interest rate divided by 12(one month's interest). ""m"" as the number of months until your loan is payed off. ""l"" as the principle(loan amount without interest).Your mortgage payment = l x [(i(1+i)m] / [(1+i)m-1]That is,The principle multiplied by one month's interest times the quantity 1 plus one month's interest times the number of months until the loan is paid, divided by the quantity 1 plus the monthly interest times the quantity of the number of months til the loan is paid minus 1.
How long will it take for the balance of an account to double if the savings account earns 0.75 annual interest compounded monthly?
To determine how long it will take for an account balance to double with an annual interest rate of 0.75% compounded monthly, you can use the Rule of 72 as a rough estimate. Dividing 72 by the interest rate (72 / 0.75) gives approximately 96 years. For a more precise calculation using the formula for compound interest, it would take about 93.5 years to double the investment.
Valerie wants to take out a discount loan of 569. the rate is 4.5 for 250 days. how much will she pay?
To calculate the amount Valerie will pay for the discount loan, first determine the interest using the formula: Interest = Principal × Rate × Time. Here, the principal is 569, the rate is 4.5% (or 0.045), and the time is 250 days (or 250/365 years). Calculating the interest: Interest = 569 × 0.045 × (250/365) ≈ 17.53. Now, subtract the interest from the principal to find the total amount she will pay: Total amount paid = Principal - Interest = 569 - 17.53 ≈ 551.47. Thus, Valerie will pay approximately $551.47.
Calculate the amount of interest on a loan of 3200 at 6 percent interest for 60 days using the ordinary interest method?
32
What is the amount of interest on a loan of 3200 at 6 percent interest for 60 days using the ordinary interest method?
[{(3200*6)/100}/365]*60
What is the future value of a 5-year ordinary annuity?
The future value of a 5-year ordinary annuity can be calculated using the formula: ( FV = P \times \frac{(1 + r)^n - 1}{r} ), where ( P ) is the payment per period, ( r ) is the interest rate per period, and ( n ) is the number of periods. This formula accounts for the compounding interest on each payment made at the end of each period. To find the specific future value, you would need to know the payment amount and the interest rate.
How is interest calculated?
Interest is found using the formula: PRT/100 = PxRxT/100. the answer is then divided by 100.
What is the formula for finding time when using simple interest?
time= interest/principal x rate likee yeahh thats it
How much interest would you earn on 180 million pounds?
The interest earned on £180 million depends on the interest rate and the duration for which the money is invested. For example, at an annual interest rate of 2%, you would earn £3.6 million in interest after one year. If the rate is higher or lower, the interest earned would adjust accordingly. You can calculate the exact amount using the formula: Interest = Principal x Rate x Time.
How do you find total amount if principle rater of interest months and interest is given?
To find the total amount, you can use the formula: Total Amount = Principal + Interest. First, calculate the interest using the formula: Interest = Principal × Rate × Time (in months/12). Then, add the interest to the principal to get the total amount.
How do you derive PVI formula?
The present value interest factor (PVIF) is derived using the formula: PVIF = 1 / (1 + r)^n. This formula calculates the value of $1 received in the future discounted back to its present value using the interest rate (r) and number of periods (n).
Find the amount of interest on a loan of 6000 for 150 days is 210.50. Using the ordinary interest method what is the rate of interest on the loan?
it works out at roughly 11.71% - although that is if interest is only applied annually, I reckon this is probably not the case though, in which case the effective interest rate would be lower.
What is amount of interest paid on unpaid balance?
The amount of interest paid on an unpaid balance depends on the interest rate and the duration for which the balance remains unpaid. Typically, interest is calculated using the formula: Interest = Principal × Rate × Time. The interest rate is often expressed as an annual percentage rate (APR), so the time frame must be adjusted accordingly. Therefore, to determine the exact amount, you would need to know the principal amount, the interest rate, and the time period the balance is carried.
What is the formula for calculating the impact of making an extra mortgage payment a year using a calculator?
The formula for calculating the impact of making an extra mortgage payment a year using a calculator is: Total Interest Saved (Loan Amount Interest Rate Extra Payment Amount) / Number of Payments
How can I calculate compound interest using the compound interest formula in Google Sheets?
To calculate compound interest in Google Sheets, use the formula: A P(1 r/n)(nt), where A is the future value, P is the principal amount, r is the annual interest rate, n is the number of times interest is compounded per year, and t is the number of years. Enter these values into the formula in the appropriate cells in Google Sheets to calculate the compound interest.
