10-31-2007, 02:03 PM
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Greenhorn
Join Date: Jul 2006
Posts: 22
Rep Power: 6  |
what's the simple interest for 1.48million dollars with rate of 3% for 4 yrs.?
Its a home savings account with monthly minimum witdrawal of 500x2+3200.<br />
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10-31-2007, 02:03 PM
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#2 |
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Greenhorn
Join Date: Jul 2007
Posts: 20
Rep Power: 5 |
what's the simple interest for 1.48million dollars with rate of 3% for 4 yrs.?
your savings account has 1.48 million dollars and you do not know how to do simple interest? did you inherit 3.6 million
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10-31-2007, 02:03 PM
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#3 |
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Greenhorn
Join Date: Jul 2006
Posts: 10
Rep Power: 0 |
what's the simple interest for 1.48million dollars with rate of 3% for 4 yrs.?
simple interest means that you do not have to compound, so just multiply 1,480, 000 X .03 X 4
that should do it estimate = just a bit under 175 000 |
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