I'm in the 7th grade and I am soo confused on my homework because I wasn't at school that day and this is really hard. Please someone help me!!
2006-12-02 02:57:02 · 3 answers · asked by Freshy - Smlies 1 in Education & Reference ➔ Homework Help
I found this site on calculating interest which may come in handy for you:
http://math.about.com/od/businessmath/ss/Interest_4.htm
2006-12-02 03:06:30 · answer #1 · answered by asreid14 5 · 0⤊ 0⤋
the amount deposited * the rate (which is in percentage) * the time deposited in months if it is a monthly rate and in years if it is in yearly rate. i.e if u put £500 in a bank with 7% rate per annum (year) for 10 years u will do it like this.
500 * 7% * 10= 500* 7/100 * 10 = 350
2006-12-02 11:58:14 · answer #2 · answered by i luv the word awsome 2 · 0⤊ 0⤋
Use the formula for interest rate.
I=prt
I=interest p=the amount you are trying to find the interest for r=rate a percentage expressed in decimal ex. 50%=.50 t=time always expressed in years.
2006-12-02 13:36:25 · answer #3 · answered by Jo 2 · 0⤊ 0⤋