Question

What is the formula for calculating the interest rate?​

Answer 1

Answer:

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your answer is here !

Step-by-step explanation:

There are two types of interest which can be calculated using a different formula

Simple Interest

Compound Interest

To calculate simple interest, the formula used is (PX RX T)/ 100

Where P is the principal amount, R is for the rate of interest and t is for time

The formula for calculating compound interest is PX (1 + r/100) ^t

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Answer 2

Answer:

Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods. Where r is in decimal form; r=R/100; r and t are in the same units of time.