Question

Compute the interest. Round to the nearest cent.
Principal = $100
Rate = 10% per year
Time = 1 Year
Interest = _____

Answer 1

Compound or Simple?

Answer 2

Could you explain how to do it? Cause I have no idea even what its talking about

Answer 3

Oky CompoundInterest is the slightly complicated one. Its the one used in banks and stuff.
Simple Interest is well pretty simple,
Use a formula.
Simple Interest = Principal x Rate x Time/100

Answer 4

So you tell me. By simple interest what should be the answer.?
And Interest is basically a charge charged on loans. It is computed using that formula I wrote.

Answer 5

Would it be 10?

Answer 6

Yes. Good.
So 10$ is the Interest in simple interest.
However. Peopleas you know make things complicated.
So we have copound interest. Now it may look complex,but its really simple once you e hold of it.
So we hae another formula.
Amount= Principal x [ 1+ Rate/100] ^Time..

Answer 7

**have a hold of it

Answer 8

Okay thanks you soo much!

Answer 9

So Interest is the surplus charge.Thereforeit'll be Amount - Principal.

Answer 10

Welcome.:)

Answer 11

So this one would be the same rite? : Compute the interest. Round to the nearest cent.
Principal = $240
Rate = 12% per year
Time = 2 Year
Interest = _____

Answer 12

I = prt = 100 * .1 = $10

Answer 13

Chlorophyll, That was the answer for the first question rite?

Answer 14

Yep!

Answer 15

K thanks :)

Answer 16

I = 240 *.12 * 2 = $57.6

Answer 17

So you don't divide 100 at the end?

Answer 18

She did. Made 12/100=0.12

Answer 19

Ohh lol okay

Answer 20

@siddhantsharan , thanks for elaborating thoroughly :)

Answer 21

Haha. Pleasure :)

Answer 22

I'm so horrible at explanation for ever :(

Answer 23

Suppose that $27.40 is withheld for federal income tax and $12.35 is
withheld for Social Security. What would your net pay be? _____

SALES CLERK
Monday - Friday
8-hr. day $4.35/hr.
Apply in person.
Pedal Power Bike Shop

Answer 24

is $135.75 the answer?