Question
What is the amount of interest of 75,000 at 3.45% per year, at the end of 12 years and 6 months?
121
likes605 views
Answer to a math question What is the amount of interest of 75,000 at 3.45% per year, at the end of 12 years and 6 months?
Esmeralda
4.7102 Answers
The formula for simple interest is:
I=\frac{P\times t\times r}{100}
Given P = $75000, t = 12.5 years, and r = 3.45% or 0.0345:
I=\frac{75000\times12.5\times0.0345}{100}=323.4375
Frequently asked questions (FAQs)
What are the characteristics of the circle function x^2 + y^2 = r^2?
+
Find the derivative of f(x) = 5x^3 - 2x^2 + 4x - 7
+
What are the period, amplitude, and asymptotes of the function f(x) = tan(x)?
+
New questions in Mathematics