what is the equation for figuring out interest?

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what is the equation for figuring out interest?

2007-02-26 10:12:20 · 2 answers · asked by Anonymous in Education & Reference ➔ Homework Help

2 answers

Take the percent that the interest is and then multiply it by your purchase. Then take the answer (which should be smaller than your price) and add the solution

2007-02-26 10:22:44 · answer #1 · answered by mnkstapel 3 · 0⤊ 0⤋

If your interest rate is 10% and your amount of the loan or balance is $1000, then multiply the rate times the amount.

1000.00
x .10
-------------
$100.00

2007-02-26 10:26:58 · answer #2 · answered by joe_on_drums 6 · 0⤊ 0⤋