would like to know how to figure it out for my self.
2006-10-11 12:38:46 · 7 answers · asked by possum t 1 in Business & Finance ➔ Investing
(4.5% x 24,000/ 365) x 15 = $44.38. That is only approximate. It somewhat depends on how it is calculated. Some institutions used months instead of days.
2006-10-11 12:43:50 · answer #1 · answered by Anonymous · 0⤊ 0⤋
A very simplified way to calculate is with the assumption that 4.5% interest rate is an annual interest rate. So, you would have to convert this to the interest rate for 15 days, i.e., 4.5% divided by 365, then multiply by 15.
Then, using the equation i = p x r x t, i = 24000 x (4.5%/365) x 15.
2006-10-11 12:46:43 · answer #2 · answered by errant_hero 4 · 0⤊ 0⤋
Take 24,000.00 x 4.5% = 1080
Divide it by 365 (days in a year) = 2.96 a day
Multiply that by 15 days = 44.40
2006-10-11 12:52:13 · answer #3 · answered by barbiehow 3 · 1⤊ 0⤋
24000 x .045 /365 x 15
2006-10-11 12:44:02 · answer #4 · answered by kny390 6 · 0⤊ 0⤋
what you need to do is:
(24000 x 0.045) / 365= this is how much you earn a day,
answer x 15= $44.38
2006-10-11 13:03:56 · answer #5 · answered by .... 1 · 0⤊ 0⤋
check it: 4.5*24000*15. Huge!
2006-10-11 12:53:16 · answer #6 · answered by WJ 7 · 0⤊ 0⤋
44.38
2006-10-11 14:02:00 · answer #7 · answered by LARCO 4 · 0⤊ 0⤋