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Calculate interest rate on investments

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intertan
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2016/02/08 11:46:18 (permalink)
Need to figure out the formula for this
Investment $740
Every month I get $3.41 payed out not added to the original investment.
What is the interest rate
 

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    Grey_Beard
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    Re: Calculate interest rate on investments 2016/02/08 12:00:14 (permalink)
    The interest rate in annual terms is 5.53%. The formula is as follows (interest paid/principal amount) X 12 or number of cycles necessary to annualized it. For this example the formula shows (3.41/740) X 12 = 5.53%. If the interest paid was quarterly or semi-annually, this would have impacted the number the product is multipled by. 12 is for monthly, 4 is for quarterly and 2 is for semi-annually. Let me know if you have any questions.



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    Cool GTX
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    Re: Calculate interest rate on investments 2016/02/08 12:15:31 (permalink)
    Grey_Beard
    The interest rate in annual terms is 5.53%. The formula is as follows (interest paid/principal amount) X 12 or number of cycles necessary to annualized it. For this example the formula shows (3.41/740) X 12 = 5.53%. If the interest paid was quarterly or semi-annually, this would have impacted the number the product is multipled by. 12 is for monthly, 4 is for quarterly and 2 is for semi-annually. Let me know if you have any questions.

     
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    Seems someone is having trouble with their math homework.
     
    https://www.khanacademy.org/math
     

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