Jefferson earned the annual interest rate of 4.81% which is not a bad rate of return. Now, we take the power of (1/10) at the left side of the equation and clear from the right side.Ĭalculate the value on the left and solve for r. Now, we are solving for the Rate (r)in the following steps. We assume an annual rate m =1 and implement it into the formula. If we consider an investment of $500 and we are obtaining $800 in the future span of time after t = 10 years. She considered it as a part of the investment. Five years later, she sold this status for $800. Jefferson bought an antique status for $500. The monthly compounded interest for 10 years is Rs 34,140.83 Monthly Compound Interest Formula– Example #3 Monthly Compound Interest = P * (1 + (R /12)) 12*t – P Monthly Compound Interest is calculated using the formula given below What will be the monthly compounded interest for the 10 years? Monthly Compound Interest Formula – Example #2Ī sum of money is invested at a rate of 10% is Rs 20,000.
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