Question

what is simple interset

Answer 1

Step-by-step explanation:

The formula for simple interest is..

$si = \frac{p \times r \times t}{100}$

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Answer 2

Answer:

Simple interest is based on the principal amount of a loan or the first deposit in a savings account. Simple interest doesn't compound, which means a creditor will only pay interest on the principal amount and a borrower would never have to pay more interest on the previously accumulated interest.