2 Answers: Interest on $50,000 at 3.15%?

Question

What amount of interest will I get for an investment of 1 year for $50,000.00 for 1 year at 3.15%?

Is this correct calculation? $50,000 * .0315 = $1,575.00

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Mia Rodriguez 8 months 2 Answers 85 views 0

Answers ( 2 )

  1. If it’s simple interest, or if it’s compounded annually, you would receive 50000 * 1 * 0.0315 = $1575 in interest.

    If it’s compounded continuously, you would receive (e^0.0315 -1) * 50000 = $1600.06+ in interest.

  2. $50,000.00 / 100=$500

    $500 *3.15%=$1,575.

    You will earn $1,575 of interest.

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