What is the formula to calculate simple interest?
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Answer:
Simple Interest Equation (Principal + Interest)
A= P (1 + rt)
- A = Total Accrued Amount (principal + interest)
- P = Principal Amount.
- I = Interest Amount.
- r = Rate of Interest per year in decimal; r = R/100.
- R = Rate of Interest per year as a percent; R = r * 100.
- t = Time Period involved in months or years.
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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.
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