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Mr. Paul borrows $20,000 on condition to repay it with compound interest at 5% per annum in annual installments of $2,000 each. Find the number of years for the debt to be paid off.
Hi, is there a way to find out the annual compound interest (A), from the interest (I) over (Y) number of years? For example: If interest over 5 years is 300%, so I=5, Y=3.0, how can I calculate A=? Thanks in advance.
Hey everyone! I've got a bit of a conundrum here. I need an equation to calculate the difference between 2 different compound interest rates, that will add the difference between each previous time period to the total, let me explain: A Youtube channel has 1000 subscribers, every month that...
Re: Derivative of Trig functions/Compound Interest problems For the first question, you want to compare the future amount of $10,000 invested at 6% compounded yearly with $9,950 invested at 5.9% compounded daily. For simplicity, we will assume a 365 day year.
Compound Interest: You are going to invest some money at 6.5%/a, compound quartely. A tree grows in height by 21% per year. It is 2 m tall after one year.
Based on the formula P = P(0)(1 + r/n)^nt, I inferred that when you have an interest rate r, the value only increases by ((r/n)* 100) percent for every period. For example, an interest rate of 10% compounded quarterly would only increase the value by 2.5% every 3 months, culminating in an...
I have a rather vague word problem in my math book, was wondering if you guys would help me out here. At 5.5% interest compounded monthly, how long would...
I'm trying to understand the logic, not really the derivation of the formula. Example 1: = [(1 + /)^− 1] / (/) A = future value m = periodic payments r = int rate n = # of compounding periods t = # of years So for this formula I understand it as.. To get future value, we multiply periodic...
Kindly give the formula for calculating the interest tot be paid for RS 120000/- at the rate of 5% diminishing interest every year for 10 years. What is the easy method of calculation?
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