A 10000 1 003875 5 119375 A 1193750 The total amount accrued principal plus interest from simple interest on a principal of 1000000 at a rate of 3875 per year for 5 years is 1193750. Simple Interest for n months P n R 12 100. Total value with compound interest P 1 i n n t P Compound interest P 1 i n n t 1 where.
So the value of n is 34.
Using the Simple Interest Formula 1. So the value of n is 34. Interest is paid on the total amount of money borrowed also known as the. P is the principle amount.