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How much interest will $10,000 earn in 9 months at an annual

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How much interest will $10,000 earn in 9 months at an annual [#permalink] New post 24 Nov 2011, 23:44
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How much interest will $10,000 earn in 9 months at an annual rate of 6%?


9 months is 3/4 of an year , FINE , how is 6% = 3/50 ???
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Re: HOW DO U DO INTEREST PROBLEMS [#permalink] New post 25 Nov 2011, 03:00
6% is 6/100
Divide by 2 and you get 3/50
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Re: HOW DO U DO INTEREST PROBLEMS [#permalink] New post 21 Jan 2012, 07:05
How do you compute the answer to this q? thanks
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Re: HOW DO U DO INTEREST PROBLEMS [#permalink] New post 21 Jan 2012, 09:03
Expert's post
karthiksms wrote:
How do you compute the answer to this q? thanks


Simple interest = principal * interest rate * time, where "principal" is the starting amount and "rate" is the interest rate at which the money grows per a given period of time (note: express the rate as a decimal in the formula). Time must be expressed in the same units used for time in the Rate.

How much interest will $10,000 earn in 9 months at an annual rate of 6%?

9 months = 3/4 of year;
6% = 6/100=3/50;

$10,000(principal)*3/50(interest rate)*3/4(time)=$450.

Check Percents chapter of Math Book for more on this topic: math-number-theory-percents-91708.html

Hope it helps.
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Re: HOW DO U DO INTEREST PROBLEMS   [#permalink] 21 Jan 2012, 09:03
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