2006-07-12 16:53:20 · 7 answers · asked by Mel B 1 in Education & Reference ➔ Homework Help
Which part is confusing for you? This is a pretty straightforward problem.
2006-07-12 16:57:26 · answer #1 · answered by Nelson_DeVon 7 · 0⤊ 0⤋
$412.50. You can find it by multiplying $10,000 (your principal) by the annual interest rate of 5.5% (or 0.055). Then, because you are only looking for nine of those twelve months, you will multiply your answer by 9/12 or 0.75. That should leave you with a total of $412.50.
That of course is assuming you are figuring simple interest. However, if you are dealing with a situation of compound interest, you will arrive at a different answer. But given the information, I think this is what you were looking for. Good luck!
2006-07-12 17:03:18 · answer #2 · answered by Amanda G 1 · 0⤊ 0⤋
do you have a caculator or a pencil and paper and did you get out of the 3rd grade
2006-07-12 17:07:21 · answer #3 · answered by Jim 2 · 0⤊ 0⤋
is it like a compound interest or simple interest
2006-07-12 17:40:26 · answer #4 · answered by fzaa3's lover 4 · 0⤊ 0⤋
=10000X.055X9/12
=412.5 interest
2006-07-12 17:37:39 · answer #5 · answered by judy 3 · 0⤊ 0⤋
do your math and figure it out.
2006-07-12 17:07:14 · answer #6 · answered by Memigen 4 · 0⤊ 0⤋
could be $412.49
2006-07-12 16:58:30 · answer #7 · answered by orion slider 2 · 0⤊ 0⤋