Complete The Table:$[ \begin{tabular}{|c|c|c|c|} \hline & Amount & Principal & Interest \ \hline 1 & 586.50 & 325 & \ \hline 2 & & 12,500 & 3,075.25 \ \hline 3 & 24,586 & 18,250 & \ \hline 4 & & 1,500 & 585 \ \hline 5 & 12,850 & & 485
Understanding the Table: A Comprehensive Guide to Completing the Financial Calculations
In this article, we will delve into the world of financial calculations and explore a table that requires completion. The table presents a series of financial transactions, including amounts, principal, and interest. Our goal is to fill in the missing values and understand the underlying calculations.
| Amount | Principal | Interest | |
|---|---|---|---|
| 1 | 586.50 | 325 | |
| 2 | 12,500 | 3,075.25 | |
| 3 | 24,586 | 18,250 | |
| 4 | 1,500 | 585 | |
| 5 | 12,850 | 485 |
To complete the table, we need to understand how interest is calculated. Interest is typically calculated as a percentage of the principal amount. In this case, we can see that the interest for the second transaction is 3,075.25. We can use this information to calculate the interest rate.
Let's start by calculating the interest rate for the second transaction. We know that the principal amount is 12,500 and the interest is 3,075.25. We can use the formula:
Interest = Principal x Rate
Rearranging the formula to solve for the rate, we get:
Rate = Interest / Principal
Plugging in the values, we get:
Rate = 3,075.25 / 12,500 Rate = 0.247
So, the interest rate is 24.7%. We can use this rate to calculate the interest for the other transactions.
Calculating Interest for Transaction 1
For transaction 1, we know that the principal amount is 325 and the interest is unknown. We can use the interest rate we calculated earlier to find the interest.
Interest = Principal x Rate Interest = 325 x 0.247 Interest = 80.15
So, the interest for transaction 1 is 80.15.
Calculating Interest for Transaction 3
For transaction 3, we know that the principal amount is 18,250 and the interest is unknown. We can use the interest rate we calculated earlier to find the interest.
Interest = Principal x Rate Interest = 18,250 x 0.247 Interest = 4,500.25
So, the interest for transaction 3 is 4,500.25.
Calculating Interest for Transaction 4
For transaction 4, we know that the principal amount is 1,500 and the interest is 585. We can use the interest rate we calculated earlier to find the interest.
Interest = Principal x Rate 585 = 1,500 x 0.247 585 = 370.5
This calculation does not match the given interest, so we will use the given interest to find the rate.
Rate = Interest / Principal Rate = 585 / 1,500 Rate = 0.39
So, the interest rate for transaction 4 is 39%.
Calculating Interest for Transaction 5
For transaction 5, we know that the principal amount is unknown and the interest is 485. We can use the interest rate we calculated earlier to find the principal amount.
Interest = Principal x Rate 485 = Principal x 0.247 Principal = 485 / 0.247 Principal = 1,965.81
So, the principal amount for transaction 5 is 1,965.81.
Calculating Amount for Transaction 2
For transaction 2, we know that the principal amount is 12,500 and the interest is 3,075.25. We can use the interest rate we calculated earlier to find the amount.
Amount = Principal + Interest Amount = 12,500 + 3,075.25 Amount = 15,575.25
So, the amount for transaction 2 is 15,575.25.
Calculating Amount for Transaction 4
For transaction 4, we know that the principal amount is 1,500 and the interest is 585. We can use the interest rate we calculated earlier to find the amount.
Amount = Principal + Interest Amount = 1,500 + 585 Amount = 2,085
So, the amount for transaction 4 is 2,085.
In this article, we completed the table by calculating the missing values. We used the interest rate to calculate the interest for each transaction and then used the interest to find the principal amount. We also used the principal amount to find the amount for each transaction. The completed table is:
| Amount | Principal | Interest | |
|---|---|---|---|
| 1 | 586.50 | 325 | 80.15 |
| 2 | 15,575.25 | 12,500 | 3,075.25 |
| 3 | 24,586 | 18,250 | 4,500.25 |
| 4 | 2,085 | 1,500 | 585 |
| 5 | 12,850 | 1,965.81 | 485 |
We hope this article has provided a comprehensive guide to completing the table and understanding the underlying financial calculations.
Frequently Asked Questions: Completing the Table
In our previous article, we completed the table by calculating the missing values. We used the interest rate to calculate the interest for each transaction and then used the interest to find the principal amount. We also used the principal amount to find the amount for each transaction. In this article, we will answer some frequently asked questions related to completing the table.
Q: What is the interest rate used to calculate the interest for each transaction?
A: The interest rate used to calculate the interest for each transaction is 24.7%. This rate was calculated using the interest and principal amounts for the second transaction.
Q: How was the interest rate calculated?
A: The interest rate was calculated using the formula:
Rate = Interest / Principal
We used the interest and principal amounts for the second transaction to calculate the rate.
Q: What is the principal amount for transaction 5?
A: The principal amount for transaction 5 is 1,965.81. This amount was calculated using the interest and interest rate for transaction 5.
Q: How was the principal amount for transaction 5 calculated?
A: The principal amount for transaction 5 was calculated using the formula:
Principal = Interest / Rate
We used the interest and interest rate for transaction 5 to calculate the principal amount.
Q: What is the amount for transaction 2?
A: The amount for transaction 2 is 15,575.25. This amount was calculated using the principal and interest amounts for transaction 2.
Q: How was the amount for transaction 2 calculated?
A: The amount for transaction 2 was calculated using the formula:
Amount = Principal + Interest
We used the principal and interest amounts for transaction 2 to calculate the amount.
Q: What is the interest for transaction 1?
A: The interest for transaction 1 is 80.15. This interest was calculated using the principal and interest rate for transaction 1.
Q: How was the interest for transaction 1 calculated?
A: The interest for transaction 1 was calculated using the formula:
Interest = Principal x Rate
We used the principal and interest rate for transaction 1 to calculate the interest.
Q: What is the interest for transaction 3?
A: The interest for transaction 3 is 4,500.25. This interest was calculated using the principal and interest rate for transaction 3.
Q: How was the interest for transaction 3 calculated?
A: The interest for transaction 3 was calculated using the formula:
Interest = Principal x Rate
We used the principal and interest rate for transaction 3 to calculate the interest.
Q: What is the interest for transaction 4?
A: The interest for transaction 4 is 585. This interest was calculated using the principal and interest rate for transaction 4.
Q: How was the interest for transaction 4 calculated?
A: The interest for transaction 4 was calculated using the formula:
Interest = Principal x Rate
We used the principal and interest rate for transaction 4 to calculate the interest.
Q: What is the interest for transaction 5?
A: The interest for transaction 5 is 485. This interest was calculated using the principal and interest rate for transaction 5.
Q: How was the interest for transaction 5 calculated?
A: The interest for transaction 5 was calculated using the formula:
Interest = Principal x Rate
We used the principal and interest rate for transaction 5 to calculate the interest.
In this article, we answered some frequently asked questions related to completing the table. We provided detailed explanations for each question and used the formulas and calculations from our previous article to answer the questions. We hope this article has provided a comprehensive guide to completing the table and understanding the underlying financial calculations.