earned intrest

United States
March 2, 2007 9:05am CST
how much interest will be earned on 10,000.00 at 3% over 10 months?
2 people like this
3 responses
thoney
@thoney (30)
• United States
3 Mar 07
just multiply 10,000 by .03 and the answer is 300 then multiply by 10 months and the answer is 3000.
yanjiaren
@yanjiaren (9031)
•
2 Mar 07
Now that depends if you are compounding it all or drawing out the interest monthly alone or leaving everything in. It's a bit too early for me as i don't like using a calculator lol but i will guess lol. 1. 300 x 10 = 3,000.00 That would be over 10 months non compounding. compounded i will have to work that out after my breakfast lol.
killahclaire
@killahclaire (3665)
•
2 Mar 07
1% APR is 10000/100 = 100 3% APR is 100x3 = 300 1 month = 300/12 = 25 10 month = 25 x10 = 250 answer 250 you really should learn to do this as it is very important when applying for finance and if you think about it in simple steps it isnt hard. you could even get your calculator to work out most of it.