How long will it take to grow to 11 800.00 if 10 000 is invested at 4.5% simple interest? (2024)

How long will it take to grow to 11 800.00 if 10 000 is invested at 4.5% simple interest?

Step-by-step explanation:

How much was borrowed if a simple interest rate of 2.10% was offered payable in 4 months with interest of Php35 00?

I=prt p=Php35. 00 r=2.10% or 0.0210 t= 4 months or 4/12 = 3 I = prt =(Php35. 00)(0.0210)(3) = Php2. 205 They barrowed Php2.

How long will it take for a sum of money to grow from Rs 1250 to Rs 10000 if it is invested at 12.5% pa?

1250 has become Rs. 10,000. Therefore, the interest earned = 10,000 – 1250 = 8750. => n = 700 / 12.5 = 56 years.

What is the principal invested if $216 interest was earned in 9 years at an interest rate of 2?

Substitute the given values to the formula. The interest (I) is $216, the rate of interest (r) is 2% (or 0.02 in decimal form), and the time (t) is 9 years. Hence, P = 216 / (0.02*9) = $1200. This means that the principal investment that would yield $216 of interest over 9 years with an interest rate of 2% is $1200.

What is the simple interest on an investment?

To calculate simple interest, multiply the principal amount by the interest rate and the time. The formula written out is "Simple Interest = Principal x Interest Rate x Time."

What is 7000 borrowed at 3.5% rate of interest per annum borrowed for 2 years?

Therefore, R s 7490 amount is to be paid at the end of second year.

How much money was borrowed at 12% annually for 6 months if the interest was $90?

Answer and Explanation:

The amount of money that was borrowed is $1,500. Explanation: We are provided that: Interest amount = $90.

How long will it take a sum of $1060 to grow to $1378 at a rate of 5 per annum *?

It will take approximately 5 years for the sum of $1060 to grow to $1378 at a rate of 5% per annum. Thus, option D is the correct option. Rounded to the nearest whole number, it will take approximately 5 years for the sum of $1060 to grow to $1378 at a rate of 5% per annum.

How long will it take for $400 to grow to $1000 at the following interest rates a 4% B 8% C 16%?

Expert-Verified Answer

At a 4% interest rate, it will take about 11.67 years for $400 to grow to $1,000. At an 8% interest rate, it will take about 5.93 years, and at a 16% interest rate, it will take about 3.19 years.

How long will it take $12000 to grow to $15000 if the investment earns interest at the rate of 5 %/ year compounded monthly?

Expert-Verified Answer

It will take 3.5 years for an investment of $12,000 to grow to $15,000 if the interest earned is compounded monthly at the rate of 5% per year.

How many years will $400 yield an interest of $112 at 14% simple interest?

What is the interest at the end of 1 year if 10000 is invested at 5% interest rate per?

Substitute 10000 for \[P\], 5 for \[r\] and 1 for \[t\] in equation (1) to obtain the interest at the end of one year. Thus, the interest at the end of the one year is Rs. 500.

How much interest will Michael invest $2000 in the bank at a rate of 5.5% for 6 years?

The required interest earned by Michael is given as $660.

Is simple interest a good thing?

Simple interest is more advantageous for borrowers than compound interest, as it keeps overall interest payments lower. Car loans, amortized monthly, and retailer installment loans, also calculated monthly, are examples of simple interest; as the loan balance dips with each monthly payment, so does the interest.

Do you gain money with simple interest?

Simple interest works in your favor when you borrow money, while compound interest is better for you as an investor. As a borrower, simple interest is better because you're not paying interest on interest. It's easier to repay debt with simple interest.

What are the disadvantages of simple interest in investment?

Simple interest has the disadvantage that if the interest rate is high, the borrower will pay more. Furthermore, if the repayment period (years) is greater, the borrower will pay more.

What is the total amount of the monthly payments for a $4000 2 year loan with an APR of 4% according to the table?

What is the total amount of the monthly payments for a $4,000, 2-year loan with an APR of 4% according to the table in Example 1? SOLUTION: The monthly payments were $173.68 and must be paid for two years which is 24 months.

What amount is to be repaid on a loan of 12000 for 1.5 years at 10% per annum compounded half yearly?

A=12000×(2120)×(2120)×(2120)=Rs. 13891.5.

What is the total amount of interest from a $5000 loan after three years with a simple interest rate of 6%?

Answer and Explanation:

In this question, the outstanding principal is 5000, annual interest rate is 6%, and the term of the loan is 3 years. Hence total interest is: 5000 * 6% * 3 = 900.

How much is $10000 for 5 years at 6 interest?

The future value of $10,000 with 6 % interest after 5 years at simple interest will be $ 13,000.

How long will it take $10000 to double at 11% simple interest?

T = I / (PR). Since we want to double the principal amount, the interest (I) would be $10,000. T ≈ 9.09 years. Therefore, it will take approximately 9.09 years for $10,000 to double at a 11% simple interest rate.

How long will it take to pay off $7000?

It will take 21 months to pay off $7,000 with payments of $400 per month, assuming the average credit card APR of around 18%. The time it takes to repay a balance depends on how often you make payments, how big your payments are and what the interest rate charged by the lender is.

How long will it take for $500 to grow to $1039.50 if invested at 5 percent compounded annually?

Answer & Explanation

The number of years it will take for ​$500 to grow to ​$1,039.50 at 5 percent compounded annually is 15 years.

How long will it take 5000 to grow to 15000?

Answer and Explanation:

Looking at the information provided, we have P=5000, A=15000, and r=0.06. We need to find the value of t using the compound interest formula. We can find it as follows. Thus, it will take 18.85 years.

How much can $100,000 grow in 10 years?