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The simple interest rate of a number is represented by the following formula:
i = (T / P) - 1
Where:
i = interest rate
T = total of all payments
P = principal amount
For example, what is the interest rate if I borrowed $500 and paid back $50 per month for a year?
T = $50/month * 12 months = $600
P = $500
i = (600 / 500) -1
i = 1.2 - 1 = 0.2 = 20%
The simple interest rate is 20%.
What else can I help you with?
How can you calculate your CD interest rate?
To calculate CD interest rate, all you have to do is to just multiply the principal amount you have invested in CD with interest rate. If u want to calculate for the monthly interest then divide the resultant with 12.
What is the formula to calculate monthly interest rate if the annual interest rate is known?
Annual Interest Rate divided by 12= Monthly Interest Rate
Calculate the annual interest rate on a credit card if the monthly interest rate is 1.2.?
14.4 %. A+
Calculate the daily interest on a annual rate of 17.7?
0.04849 %
Calculate the annual interest rate on a credit card if the monthly interest is 1.2 percent?
14.4%
How can I calculate the daily interest rate for a financial investment?
To calculate the daily interest rate for a financial investment, divide the annual interest rate by 365 (the number of days in a year). This will give you the daily interest rate.
How can I calculate the monthly interest rate from an annual interest rate?
To calculate the monthly interest rate from an annual interest rate, divide the annual rate by 12. This will give you the monthly interest rate.
How do you calculate the principal and interest payment for a loan?
To calculate the principal and interest payment for a loan, you can use the formula: Payment Principal x (Interest Rate / 12) / (1 - (1 Interest Rate / 12)(-Number of Payments)). This formula takes into account the loan amount (principal), the interest rate, and the number of payments.
How can one calculate their interest?
The formula used to calculate your interest is the principle balance, multiplied by the monthly interest rate. Then you mulitply that by the number of months in which you last paid interest.
How do you calculate interest on treasury bills?
To calculate interest on treasury bills, you multiply the face value of the bill by the interest rate and the number of days the bill is held, then divide by 365.
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%
How can you calculate your CD interest rate?
To calculate CD interest rate, all you have to do is to just multiply the principal amount you have invested in CD with interest rate. If u want to calculate for the monthly interest then divide the resultant with 12.
How can I calculate the monthly interest rate on a loan or investment?
To calculate the monthly interest rate on a loan or investment, divide the annual interest rate by 12. This will give you the monthly interest rate that is applied to the loan or investment.
What is the formula to calculate monthly interest rate if the annual interest rate is known?
Annual Interest Rate divided by 12= Monthly Interest Rate
How do you calculate the monthly credit card payment?
To calculate the monthly credit card payment, you can use the formula: Payment (Balance x (Interest Rate/12)) / (1 - (1 Interest Rate/12)-Number of Months). This formula takes into account the balance on the card, the interest rate, and the number of months you want to pay off the balance.
How do I Calculate interest on 100000?
To calculate an interest (as money), multiply the capital, times the interest rate (divided by 100, if it is expressed in percent), times the number of periods. The above assumes simple interest; compound interest is a bit more complicated.
How can one calculate the real interest rate, taking into account inflation?
To calculate the real interest rate, subtract the inflation rate from the nominal interest rate. The real interest rate reflects the true purchasing power of the money invested or borrowed after adjusting for inflation.
