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The formula for simple (ordinary) interest on a bank deposit is Deposit Amount x Rate x Time (# of days) on Deposit.
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How do you calculate your mortgage payment?
Most mortgage payments can be calculated using this formula. Some mortgages are different based on specific agreements with a bank.This formula is complicated due to ""compounding interest"".Let's define ""i"" as your interest rate divided by 12(one month's interest). ""m"" as the number of months until your loan is payed off. ""l"" as the principle(loan amount without interest).Your mortgage payment = l x [(i(1+i)m] / [(1+i)m-1]That is,The principle multiplied by one month's interest times the quantity 1 plus one month's interest times the number of months until the loan is paid, divided by the quantity 1 plus the monthly interest times the quantity of the number of months til the loan is paid minus 1.
Can factoring using the quadratic formula be apply to everyday life?
If you are in the mathematics field then you might be using it everyday; otherwise... not so much
How to calculate TDS in salary?
what formula we are using to prepere monthly Salary in V lookup
What are the steps of the estimating process?
They are:Replace the numbers in the question with approximate valuesCarry out the calculation using them instead of the exact numbers.
Can the answer to a quadratic equation be a decimal?
Yes. You can calculate the two roots of a quadratic equation by using the quadratic formula, and because there are square roots on the quadratic formula, and if the radicand is not a perfect square, so the answer to that equation has decimal.
Calculate the amount of interest on a loan of 3200 at 6 percent interest for 60 days using the ordinary interest method?
32
What is the amount of interest on a loan of 3200 at 6 percent interest for 60 days using the ordinary interest method?
[{(3200*6)/100}/365]*60
How is interest calculated?
Interest is found using the formula: PRT/100 = PxRxT/100. the answer is then divided by 100.
What is the formula for finding time when using simple interest?
time= interest/principal x rate likee yeahh thats it
How do you derive PVI formula?
The present value interest factor (PVIF) is derived using the formula: PVIF = 1 / (1 + r)^n. This formula calculates the value of $1 received in the future discounted back to its present value using the interest rate (r) and number of periods (n).
Find the amount of interest on a loan of 6000 for 150 days is 210.50. Using the ordinary interest method what is the rate of interest on the loan?
it works out at roughly 11.71% - although that is if interest is only applied annually, I reckon this is probably not the case though, in which case the effective interest rate would be lower.
How do you copy a formula using relative and absolute cell addresing?
When copying a formula using absolute cell addressing the formula is left in it's exact stage. No changes are made, not even symbols excluded or included. The formula stays in it's original form. When using relative cell addressing to copy a formula the formula needs to be copied without any types of symbols.
The elements that make up a compound and the exact number of atoms of each element in a unit of the compound can be?
determined using the chemical formula of the compound. The chemical formula provides the type and ratio of elements present in a compound. After determining the chemical formula, one can calculate the exact number of atoms of each element in a unit of the compound using stoichiometry.
What adds up -13 but multiplies to 18?
To 3 decimal places the numbers are about -1.576 and -11.424 but it's quite possible to find exact their exact values by using the quadratic equation formula
Does a student loan calculator factor in interest?
Yes, most student loan calculators do automatically calculate interest in their payment estimators. However, it's very difficult to calculate an exact number using this system.
How long will money in savings take to double at 5 percent interest compounded annually?
Use the "rule of 72"...simply put, using compound interest you take the number 72 and divide it by the interest rate. Thus, at 5% the time to double is 14.4 years. This formula can be used for calculating a "double" for any interest rate using the same mathematical procedure.
How do you write a sentence using the word ordinary?
you are an ordinary kid and so fashionate
