what is a formula to calculate simple interest
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Answer:
You can calculate Interest on your loans and investments by using the following formula for calculating simple interest: Simple Interest= P x R x T ÷ 100, where P = Principal, R = Rate of Interest and T = Time Period of the Loan/Deposit in years.
Step-by-step explanation:
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Answer:
A=P(1+rt)
You can calculate Interest on your loans and investments by using the following formula for calculating simple interest: Simple Interest= P x R x T ÷ 100, where P = Principal, R = Rate of Interest and T = Time Period of the Loan/Deposit in years.
Step-by-step explanation:
A = final amount
P = initial principal balance
r = annual interest rate
t = time (in years)
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