1. Multiply the principal by the rate of interest. For example, using $8,500 as the amount of principal and .0325 as the rate of interest, the calculator will display 276.25. 2. Multiply
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calculate 10% of number (2950.00 x 10% = 295.00) then divide it by 12.
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Compound interest is just an extension of simple interest. For example, $100 at 5% interest for 1 year is $100 (1 + .05) = $105. However, if that rate is compounded every six months
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Per annum means by the year; annually: a magazine subscription of 40
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