+0  
 
0
201
1
avatar

to receive a monthly investment payment of $200 at 5.5% p.a simple interest, what would tom need to invest 

Guest Jun 3, 2017
 #1
avatar
+1

[5.5%] / 12 =0.055/12 =0.004583333...... This is your monthly interest rate.

$200 / 0.004583333...... =$43,636.36 - This is the amount you must invest.

Guest Jun 3, 2017

5 Online Users

New Privacy Policy

We use cookies to personalise content and advertisements and to analyse access to our website. Furthermore, our partners for online advertising receive information about your use of our website.
For more information: our cookie policy and privacy policy.