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how to calculate simple interest step by step. Simple interest is calculated yearly on the original principal alone and the team at Investopedia gives the formula as. Step 2 We have the principal value or present value as 15000 and the annual interest rate is 5.
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To calculate the interest I we need to multiply the principal P with the number of years n and the interest rate i. This website uses cookies to ensure you get the best experience. Step by step by studying example maths questions activities and maths worksheets y.
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Once you click the calculate button the simple interest calculator will show you. By using this website you agree to our Cookie Policy. I P x r x t where I is the interest in dollars P. This calculator can be used to solve various types of simple interest problems.
