write the formula for finding simple interest and explain each term
Answers
Answered by
2
Answer:
A = final amount
P = initial principal balance
r = interest rate
n = number of times interest applied per time period
t = number of time periods elapsed
A=P(1+r/n)nt
Answered by
5
Answer:
P*R*T/100;
where,
P=Principal amount
R=Rate of interest
T=time(in years)
Step-by-step explanation:
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