Question

write the formula for finding simple interest and explain each term ​

Answer 1

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

Answer 2

Answer:

P*R*T/100;

where,

P=Principal amount

R=Rate of interest

T=time(in years)

Step-by-step explanation: