What is the formula on calculating interest per annum? I invested $15,000. and will be getting 12% per annum. What is the interest for one year and what is the math formula. Thanks
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The calculation of simple interest is equal to the principal amount multiplied by the interest rate, multiplied by the number of periods. of 3% on a loan per annum, it means that you will need to pay an additional 3% of the principal amount every year until the end of the contract.
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