Home/Tag: Compound Interest
4 12, 2018

Compound Interest

By |2018-12-05T12:18:04+10:00December 4th, 2018|Tags: , , , |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

By |2016-10-21T13:16:59+10:00July 24th, 2016|Tags: , , , , , |0 Comments

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

By |2016-10-21T13:16:59+10:00July 24th, 2016|Tags: , , , , |0 Comments

Simple Interest I = PRN I = interest P = principal, original amount borrowed or invested R = interest rate as a decimal N = length of the loan or investment worked examples Calculate the simple interest earned on savings of $850 at 6%pa for 7 years.  I = 850 × 6% × 7 = [...]

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