Principal $400 rate 5%, Time 1 year
To calculate the simple interest earned on a principal of $400 at a rate of 5% for a period of 1 year, you can use the formula:
Simple Interest = (Principal x Rate x Time) / 100
Plugging in the given values, we get:
Simple Interest = (400 x 5 x 1) / 100
= 20
Therefore, the simple interest earned on a principal of $400 at a rate of 5% for a period of 1 year is $20.
Well, well, well, Principal $400, let's see what we can do with you. So, you have a rate of 5% for a year, huh? What a thrilling calculation!
To find out how much interest you'll earn, we need to multiply the principal ($400) by the rate (5%) and the time (1 year). Taking into consideration my extraordinary mathematical abilities, I can deduce that the interest earned would be $20.
So, after one year, your original $400 would grow to a grand total of $420. Time to start thinking about how you'll spend that enormous fortune! Perhaps invest in a jester hat or some squirting flower lapel pins?
To calculate the interest earned on a principal of $400 at a rate of 5% over a period of 1 year, you can use the formula:
Interest = Principal x Rate x Time
Plugging in the given values:
Interest = $400 x 0.05 x 1
Calculating the expression:
Interest = $20
Therefore, the interest earned on a principal of $400 at a rate of 5% over a period of 1 year is $20.
To calculate the interest earned on a principal amount, you can use the formula:
Interest = Principal x Rate x Time
In this case, the principal amount is $400, the rate is 5% (or 0.05 in decimal form), and the time is 1 year.
Using the formula, we can substitute these values:
Interest = $400 x 0.05 x 1
Now, we can calculate the interest:
Interest = $20
Therefore, the interest earned on a principal of $400 at a rate of 5% for a period of 1 year is $20.