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how to calculate simple interest worksheet. A P 1 rt where P is the Principal amount of money to be invested at an Interest Rate R per period for t Number of Time Periods. Discuss when simple interest might be used ie.
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When the amount of interest the principal and the time period are known you can use the derived formula from the simple interest formula to determine the rate as follows. I Prt becomes r IPt Remember to use 1412 for time and move the 12 to the numerator in the formula above. Use this simple interest calculator to find A the Final Investment Value using the simple interest formula.
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Short term and explain that it is a very simple way to calculate interest and mention that banks and other lending institutions usually use compound interest which will be discussed later. For each they calculate time principle interest or rate and choose an answer from multiple choice questions. To calculate simple interest use this formula. 4 interest for 36 months 3 years.
