With a simple interest rate of 12%, how much willthe interest be for an investment of $20,000 over 10years?$44,000$40,000$20,400$24,000 相关知识点: 试题来源: 解析 S.I=(P*R*7)/(100) P=$2000012=120/07=10ycwr5⋅I=(2000d*12*10)/(100)=24000 ...
Here’s how to calculate the interest on an amortized loan: Divide your interest rate by the number of payments you’ll make that year. If you have a 6 percent interest rate and you make monthly payments, you would divide 0.06 by 12 to get 0.005. Multiply that number by your remaining...
r = Rate of Interest t = Time elapsed How to Calculate Simple Interest and Compound Interest in Excel: 2 Ways In the following dataset, we have aPrincipal Amount (p)that is deposited in the bank for5years. The bank will provide3% Simple Interesteach year. We will determine the interest ...
题目 You invested 1,400 in an account that pays 6 percent simple interest. How much more could you have earned over a 2 5 -year period if the interest had compounded annually? A. 2343.23B. 4323.56C. 2134.76D.$ 2508 .62 相关知识点: 试题来源: 解析 D 反馈 收藏 ...
Divide your interest rate by the number of payments you’ll make that year. If you have a 6 percent interest rate and you make monthly payments, you would divide 0.06 by 12 to get 0.005. Multiply that number by your remaining loan balance to find out how much you’ll pay in interest ...
The monthly interest on a $3,000 loan at a 5 percent annual interest rate for six months will be$3,000 x 0.05 x 1/12 or $12.50. Step 3: Determine the Total Monthly Payment Add the monthly principal and interest payment to get the monthly loan payment: ...
You will get the interest of payment ($791.67). AutoFill the IPMT function to the rest of the cells in column D. Step 3 – Insert the PPMT Function to Calculate Principal of Payment The syntax of the function is, =IPMT(rate, per, nper, pv, [fv],[type]) Where the rate is the ...
Simple Interest Step 1 Convert the percentage interest rate to a decimal interest rate by dividing by 100. For example, if the annual interest rate equals 4.4 percent, divide 4.4 by 100 to get 0.044. Video of the Day Step 2 Multiply the decimal interest rate by the time the interest accru...
Interest rate:An interest rate is the amount lenders charge for lending money, expressed as a percentage. Your interest is primarily determined by your credit score. Repayment term:This is the amount of time you have to repay the loan. The longer the repayment period, the less you’ll pay ...
3 Steps to Calculate Your Student Loan Interest Figuring out how lenders charge interest for a given billing cycle is actually fairly simple. All you have to do is follow these three steps: Step 1: Calculate the Daily Interest Rate You first take the annual interest rate on your loan and ...