# what is the formula to calculate interest?

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**Answer:**

Step 1: To calculate your interest rate, you need to know the interest formula I/Pt = r to get your rate. ...

I = Interest amount paid in a specific time period (month, year etc.)

P = Principle amount (the money before interest)

t = Time period involved.

r = Interest rate in decimal.

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**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.

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