MHB Calculate Simple Interest: 22K/yr, n=44, r=0.5

[bjaurique]

i need to make up 22,000 per year
other pieces of information n=44, r=0.5 what is the formula to calculate what i need to solve this question?
I think its simple interest but am having a hard time remembering all.

 

[Joppy]

What you need, or what you could provide, is a little more information!

If it is simple interest then, following the wiki article, the amount of interest earned over a period of time $n$ at rate $r$ with capital of $B = 22000$ is

$S = \dfrac{r B m}{n} = \dfrac{0.5 * 22000 * m}{44}$

where $m$ is the number of times $n$ units of time has passed.

 

[Kansas Boy]

It would help if you would tell us what "n" and "r" MEAN! Is "r" the interest rate? Is the interest 5% per year? My first guess would be the number of compounding intervals but if this is simple interest that would be irrelevant. And, even if it were compound interest, you say you want to get 22,000 per year- and 44 periods per year would be very peculiar!