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If Cameron has a 21 annual interest rate what is his monthly interest rate?
To find the monthly interest rate from an annual interest rate of 21%, divide the annual rate by 12 (the number of months in a year). So, 21% ÷ 12 = 1.75%. Therefore, Cameron's monthly interest rate is 1.75%.
What was the interest paid for a loan of 800 at 5 percent annual interest for 9 months?
To calculate the interest paid on a loan of $800 at a 5 percent annual interest rate for 9 months, you can use the formula: Interest = Principal × Rate × Time. Here, the time should be in years, so 9 months is 0.75 years. Thus, the interest is $800 × 0.05 × 0.75 = $30. Therefore, the interest paid for the loan is $30.
What is one months interest on a credit card with an annual rate 14.99 with a balance of 13000?
203
If Cameron has a 21 annual rate on his credit card what is his monthly interest rate?
To find Cameron's monthly interest rate from an annual rate of 21%, you divide the annual rate by 12 months. This means the monthly interest rate is 21% ÷ 12 = 1.75%. Therefore, Cameron's monthly interest rate is 1.75%.
How to calculate the interest on 3 month fixed deposit?
To calculate the interest on a 3-month fixed deposit, you can use the formula: Interest = Principal × Rate × Time. Here, the Principal is the amount you deposited, the Rate is the annual interest rate (expressed as a decimal), and Time is the duration in years (for 3 months, it would be 3/12 or 0.25). Multiply these values to get the interest earned over the 3-month period. Remember to check if the interest is compounded, as this may affect the total amount earned.
How long will a 9000 investment take to earn 180 interest at an annual interest rate of 8 percent?
3 months
What does quarterly mean in compounded interest?
It means that the interest is paid out every three months (quarter year). That means that the interest paid out after 3 months is earning interest for the remaining nine months. The quarterly interest rate is such that this compounding is taken into account for the "headline" annual rate. As a result, if the quarterly interest is taken out, then the total interest earned in a year will be slightly less than the quoted annual rate.
How much monthly interest would you make from 50000 at 3 percent interest?
To calculate the monthly interest from an investment of $50,000 at a 3% annual interest rate, you first divide the annual rate by 12 months. This gives you a monthly interest rate of 0.25% (3% ÷ 12). Multiplying this monthly rate by the principal amount ($50,000) results in a monthly interest of $125.
What is monthly interest rate if annual interest rate earned is 5 percent?
1/12th of 5% because there are 12 months in a year. ANSWER:- 1/60th per cent, which is the same as 0.01667 of the amount invested.
What is the interest on 4000 at 3.5 percent annual interest for 1 year 6 months?
200
What does 2 percent monthly interest translate to in annual interest?
Multiply the monthly interest rate by the number of months is a year to calculate the annual interest rate: 2% x 12mo = 24%
3804 at 6.1 annual interest for 4 months?
232.04 = one year 77.35 = 4 months
What does semiannually mean in compound interest?
Semiannually in compound interest refers to the process of compounding interest twice a year. This means that interest is calculated and added to the principal amount every six months. As a result, the total amount of interest earned over a year is higher compared to annual compounding, since interest is calculated on the previously accrued interest more frequently.
If Cameron has a 21 annual interest rate what is his monthly interest rate?
To find the monthly interest rate from an annual interest rate of 21%, divide the annual rate by 12 (the number of months in a year). So, 21% ÷ 12 = 1.75%. Therefore, Cameron's monthly interest rate is 1.75%.
How many months will Rita pay in simple annual interest on a credit card that charges on her balance?
14 months
What was the interest paid for a loan of 800 at 5 percent annual interest for 9 months?
To calculate the interest paid on a loan of $800 at a 5 percent annual interest rate for 9 months, you can use the formula: Interest = Principal × Rate × Time. Here, the time should be in years, so 9 months is 0.75 years. Thus, the interest is $800 × 0.05 × 0.75 = $30. Therefore, the interest paid for the loan is $30.
John put 45 into his investment club every month for a year at a 5 percent annual interest rate Interest is calculated once at the end of the year How much money was in his account at the end of the y?
If John continues putting $45 into an investment account at 5% interest per annum. He would have earned $567.We can calculate this by taking his deposits ($45) and multiplying it by the amount of deposits (he does it monthly, so 12 months). This means that at the end of the year, his base savings is $540. Now, we need to add on the interest he'll earn by saving for the year. $540 x 0.05 = $27. Between his savings and interest ($540 + $27), he has earned $567.
