Calculate the simple interest on a hundred thousand dollar investment at an interest rate of twelve percent a year 46 months
To calculate the simple interest, we first need to convert the time period from months to years. Since there are 12 months in a year, 46 months is equal to 46/12 = 3.83 years (rounded to two decimal places).
Next, we can use the formula for simple interest:
Simple Interest = Principal * Rate * Time
In this case:
Principal = $100,000
Rate = 12% = 12/100 = 0.12
Time = 3.83 years
Therefore, the simple interest can be calculated as:
Simple Interest = $100,000 * 0.12 * 3.83
Simple Interest = $46,320
So, the simple interest on a hundred thousand dollar investment at an interest rate of twelve percent a year for 46 months is $46,320.