Write an arithmetic expression that calculates the yearly interest earned on a amount that's stored in a decimal variable named principalAmount at an interest rate that's stored in a decimal variable named interestRate. (The interest rate is stored as a decimal fraction like. 055 for a rate of 5.5%.)

Question

Corinne Li

Mathematics

29 May, 06:58

Write an arithmetic expression that calculates the yearly interest earned on a amount that's stored in a decimal variable named principalAmount at an interest rate that's stored in a decimal variable named interestRate. (The interest rate is stored as a decimal fraction like. 055 for a rate of 5.5%.)

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Answers (2)

Know the Answer?

Savanna Michael · Answer 1

Savanna Michael 29 May, 07:16

0

Principal Amount x Interest Rate

Claudia Combs · Answer 2

yearlyInterest = principalAmount * interestRate * year

Step-by-step explanation:

The general formula for interest is given as:

(principal * rate * time) / 100

but in this case the rate has been converted to decimal and the time is in year.

The principal is represented as principalAmount

The rate is represented as interestRate

The time is represented as year

So, the arithmetic expression is to multiply every term together without dividing by 100 since rate is expressed as a decimal fraction.