A percentage the interest of the principal is added to the principal making your initial investment grow. Simple interest is given by where interest principal rate and time in years. Once you know the basics of this equation the math is easy.
In this video you will learn how to find simple rate of interest.
Interest rates are typically expressed as a percentage. Interest rates are typically expressed as a percentage. 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. The business will pay back a total of 16000.