Question

24,000 times 72 with an APR of 6.5%

Answer 1

The simple interest accrued when $24,000 is multiplied by 72 at an APR of 6.5% is $68,131.2.

we can approach this in two ways:

1. Simple Multiplication:

Multiply the principal amount by 72:

`\[ 24,000 * 72 = 1,728,000 \]`

2. Including Interest (if referring to financial context):

If the intention is to calculate the future value of an investment or loan, use the formula for compound interest:

`\[ \text{Future Value} = \text{Principal} * (1 + \text{Rate})^{\text{Time}} \]`

Given:

Principal (P) = $24,000

Rate (R) = 6.5% or 0.065 (as a decimal)

Time (T) = 72 (assuming time-related)

`\[ \text{Future Value} = 24,000 * (1 + 0.065)^(72) \]`

`\[ \text{Future Value} \approx 24,000 * (2.8388) \]`

`\[ \text{Future Value} \approx 68,131.2 \]`

Therefore, when considering a multiplication of $24,000 by 72 without a clear context, the simple product is $1,728,000. However, if it's related to an investment with an APR of 6.5% compounded annually over 72 periods, the future value would be approximately $68,131.2. Please specify if this calculation relates to a different context for a more accurate answer.

Question:

To calculate the total amount when an initial principal amount of $24,000 is multiplied by 72, considering an Annual Percentage Rate (APR) of 6.5%.