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4 12, 2018

## Compound Interest

By |2018-12-05T12:18:04+10:00December 4th, 2018||Comments Off on Compound Interest

Compound Interest Go to the Forum to see more questions or ask your own Formulas used in Compound Interest A = P(1 + r)n A = total of principal and interest P = principal, original amount borrowed or invested r = interest rate as a decimal ie. divide the percent [...]

24 07, 2016

## Simple Interest Finding N

Simple Interest Finding N $N=frac{I}{RP}$ N = length of the loan or investment P = principal, original amount borrowed or invested I = interest R = interest rate as a decimal worked examples Brett invested $960 at 6%pa and earned simple interest of$23.50. For how many months was the money invested? $N=\frac{23.50}{960\times6\%}$ [...]

24 07, 2016

## Simple Interest Finding P

Simple Interest Finding P $P=\frac{I}{RN}$ P = principal, original amount borrowed or invested I = interest R = interest rate as a decimal N = length of the loan or investment worked examples Matea invested a sum of money in a savings account on which simple interest was paid at the rate [...]

24 07, 2016

24 08, 2015

## Compound Interest

Compound Interest A = P(1 + r)n worked examples Find the compound interest on $1000 for 6 years at 9%pa. A = 1000(1.09)6 =$1677.10    A = P(1 + r)n  where  P = 1000, n = 6, r = 0.09 I = $1677.10 -$1000 I = \$677.10 [...]