How do you calculate the balance in an account, with
interest?
a) Subtract the interest from the principle amount
b) Multiply the principle, rate and time
c) Add the interest to the principle amount
d) Add the principle amount and the time
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Answer:
Divide your interest rate by the number of payments you'll make in the year (interest rates are expressed annually). So, for example, if you're making monthly payments, divide by 12. 2. Multiply it by the balance of your loan, which for the first payment, will be your whole principal amount.
Step-by-step explanation:
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add the interst to the principal amount
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