P = 3200 ,rate = 17 1/2 % ,t= 2 years
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Simple Interest is the rate at which we lend or borrow money. In the following section, we will define the important terms and formulae that will help us solve and understand the questions on the simple interest. We will define the concept of Simple interest and use these formulae and definitions to solve questions that we expect will come from this section. Let us begin with the definitions!
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Contents Home Bookshelves Pre-Algebra Book: Prealgebra (Arnold) 7: Percent Expand/collapse global location
7.6: Interest
Last updatedAug 15, 2020
7.5: Percent Increase or Decrease
7.7: Pie Charts
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David Arnold
David Arnold
Retired Professor (Mathematics) at College of the Redwoods