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algebra interest formula. It may be helpful to organize the information by listing all four variables and filling in the given information. The formula for Simple Interest is.
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The formula we use to calculate simple interest is I P rt I P r t. Where B is the balance P is the initial investment r is the interest rate as a decimal n is the number of times the interest is compounded and t is the time elapsed. Simple Interest Formula is written as.
To use the simple interest formula we substitute in the values for variables that are given and then solve for the unknown variable.
By using this formula. The Loan at End of the year is the Loan at Start of the next year. I charge 2 for steps or 1 for answers only. SI P R T 100 Where SI simple interest.
