In the case of an. Work out the interest on your. Therefore for a 10-year loan at 10 where interest is compounded semi-annually number of compounding periods 2 i 5 ie 10 2 and n 20 ie 10 x 2.
Therefore for a 10-year loan at 10 where interest is compounded semi-annually number of compounding periods 2 i 5 ie 10 2 and n 20 ie 10 x 2.
Determine the total amount borrowed. Using our Simple Savings Calculator can help you quickly. Simple interest SI is determined by multiplying the daily interest rate by the principal amount and by the number of days that elapse between payments. A P 1 r t displaystyle AP 1rt.