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formula of simple interest in maths. I Prt becomes r IPt Remember to use 1412 for time and move the 12 to the numerator in the formula above. This may seem high but remember that in the context of a loan interest is really just a fee for borrowing the money.
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I Prt becomes r IPt Remember to use 1412 for time and move the 12 to the numerator in the formula above. Simple Interest P R T 100. If the bank charges Simple Interest then Alex just pays another 10 for the extra year.
This may seem high but remember that in the context of a loan interest is really just a fee for borrowing the money.
Calculate Interest solve for I. Interest Principal Rate Time which is also written as I PRT. Simple Interest P R T 100. Now let us take a look at some important formulas with respect to Simple Interest.
