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What's the interest rate P= 368,298 R=.0474 T= 30 years
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What's the interest rate P= 368,298 R=.0474 T= 30 years
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May 13, 2018
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What's the interest rate
P= 368,298
R=.0474
T= 30 years
Mathematics
middle-school
Ramirez
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Hi, we have the formula to the compound interest
A = P. ( 1 + R) ^t
A = 368,298.( 1 + 0.0474)^30
A = 368,298.( 1,0474)^30
A = 1.477,666 $
Interest = A - P
In = 1.477,666 - 368,298
In = 1.109,37 $
Now, if this by simples interest
The formula would be:
I = P × R × T
I = 368,298 × 0,0474 × 30
I = 523,719 $
, ah, as R = r/100 <=> r = 100× R <=> 4,74%
Toshkata Tonev
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May 16, 2018
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Toshkata Tonev
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The original equation is
Where P is original value;
r is interest rate in decimal;
t is time;
n is how many times per year you invest
So r is your interest rate. To get it to a percentage, just multiply by 100 to ger 4.74%!
ApoorvaJ
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May 19, 2018
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ApoorvaJ
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