Asked by kelvin
#Plz i need your help guys (the answer for this question)#
If you deposit sh. 100,000 in a bank which gives 12% interest rate per year. How much will you earn after 1 year and 6 months?
Steve today at 5:42am
That would be 100000 * .12 * 1.5
kelvin today at 12:13pm
Why is it calculated for interest and there is no place indicating it is an interest?
If you deposit sh. 100,000 in a bank which gives 12% interest rate per year. How much will you earn after 1 year and 6 months?
Steve today at 5:42am
That would be 100000 * .12 * 1.5
kelvin today at 12:13pm
Why is it calculated for interest and there is no place indicating it is an interest?
Answers
Answered by
Ms. Sue
Steve used this formula:
Interest = Principal times rate times time.
Interest = Principal times rate times time.
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