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how to solve simple and compound interest easily. Simple interest Principal x Rate x Term Principal 120000 Rate 8 per year Term 612 years Simple interest 120000 x 8 x 612 Simple interest 4800 Notice how the simple interest is calculated on the principal amount and as the rate is an yearly interest rate the term is expressed in years. Simple Interest is the interest When some money is borrowed by someone then borrower is required to pay an additional amount of money other than the original sum.
Simple And Compound Interest Guided Notes Consumer Math Compound Interest Guided Notes from www.pinterest.com
Simple Interest is the interest When some money is borrowed by someone then borrower is required to pay an additional amount of money other than the original sum. R Rate of Interest. The formula for Compound Amount.
Compound interest is calculated based on the principal interest rate and the time period involvedIt is the addition of interest to the sum of Amount or Principal Amount ie.
Python Program with Conditional Statements. Divide the annual interest rate expressed as a decimal by the number of times per year interest compounds to calculate the periodic interest rate. Google Sheets Tutorial on applying simple and compound interest. Basically The formula for Amount in Compoun interest Amount.
