A savings account-$3500 isleftfor9 months and draws simple interest ata rate of 7% How much interest is earned
368513
assuming the rate is 7% p/a the way you would calculate it is -\n\n7% of $3500 = $245 p/a\ntherefore $245 / 12 = $20.42 per month\n\nafter 9 months, $20.42 x 9 = $183.78
641659
Annual rate of 17.7% simple interest means a principal equal to 100 will amount to \n[100 + 100*(17.7/100)] = 117.7. \nThus in a leap year the daily interest rate is 17.7/366 = 0.04836 %\nBut in a year which is not a leap year the daily interest rate is 17.7/365 = 0.04849 %\n\nBut the answer is different if compound interest is considered and I am not going to find the answer in compound interest unless the asker of this question requests me to do so.
187026
This may seem tricky, but it's not that hard.  The formula to calculate the monthly interest needs APR (Annual Percentage Rate), and you have the APY (Annual Percentage Yield).  We can approximate the APR from the APY, so, again it's not a big deal.\n\nThe formula is monthly_interest = APR/365 * days_in_month * monthly_balance.  As you know, leaving the monthly interest in your savings account will increase your balance, giving you more interest the next month.  An APY or 4.8% is likely based on an APR of 4.7%.  An APR of 4.7% actually gives an APY of 4.8026%  Confirm the actual APR with your bank.  \n\nUsing 4.7% as the APR and your current balance of $113.94, we get the first month's interest of .047/365*30*113.94 = $0.440152 or 44 cents.  Notice that I assumed the month has 30 days.  Longer months will get you a few more cents of interest.\n\nBest of Luck.
853233
Divide the yearly interest by the principal to determine the rate.\n\nAssuming simple interest, you'd get 275 ÷ 2500 = 11%\n\n~ ♥ ~
1155635
Stay away from stocks or mutual funds for now. Put your money in a bank account. Most savings accounts are paying 2%-3% interest--- not a lot. But you need to have the money available to you in case of an emergency.
720450
Starting with $2000 at .026% per month compounded monthly for 12 months equals........ 6.77 for the year. 6.77 divided by 2000 equals .3385% APR. Interest rate at .026% per month multiplied by 12 month equals a .312% yearly rate.\n\nBut I could be wrong
490808
$5,874.75\n\n$63000 x 37.3% / 4
4877
$2,187.91\n\nI would look for a better rate of return if I were you:-)
1112463
It TOTALLY depends on the amount of time the loan is taken out for.  If it is just a line of credit (revolving), depends how much the business makes.  If you take out a "5" year loan, at 8.25% interest, well then, it will take you 5 years to pay, and your interest over time would be $11,188.75.  If you have Microsoft Excel, go in there and search for "loan amortization".  They have a designed schedule that let's you put in the loan amount, interest, time, etc.
17128
If you invest $14,600,000,000 in a savings account that pays 2.5% annual interest, compounded daily, you will have earned $1,000,000 in interest in one day.\nAlternatively, you could ask one million people for a dollar each, or 10 million people for a dime each, or 100 million people for a penny each.  Personally, I'd go with the penny.
1100226
Put it in a savings account
454294
OK, I have been in banking for 13 years and I cannot understand your question- Am going to try to explain what\nI THINK I understood. \n3 month cd or treasury bills, the rate you are quoted is the APY 4% - that is the annual percentage yield - the interest you would make on that money if it was to stay in that account for 12months at that rate. But since it is a 3- month, you will have to take the money out and invest it in something else. You cannot compound it because the deal expires after 3 months - Now does that make sense ?
253596
its around 4-5%. i have a student loan and my interest rate is 4.6%
749623
Simple Interest\nA = P *r * t\n\nCompound Interest (monthly)\nA = P(1 + r/12)^(12t)\n\nA1 = P(1 + .075/12)^(12*30)\nA2 = A1 * .06 * 1\n\nP(1 + .075/12)^(12*30) * .06 * 1 >= 12000\nP >= 12000 / ((1 + .075/12)^(12*30) * .06)\nP >= $21,227.97
743411
I will assume that the interest is simple and compounded annually, just to make the question easier.\n\nYou will reach $1million (US system) 97 years later, at the age of 115.  $1,035,358, actually.\n\nI used a simple formula with an Excel spreadsheet to figure this out.
353333
The formula for simple interest is\n\nInterest = Principle * rate * time\n\nI = $3500 * 0.08 * (15/12) = $350     in 15 months\n\nSo the future value of the loan would be $3500 + $350 = $3850.\n\nSimple interest is rarely used in society these days. All bank interests are continually compounded.
341197
well if make 7% every year on your money you double your money in 7 years.  28 years at that rate.  Typically just having a balanced portfolio gets that for you.