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what is the formula for calculating principal and interest. Using this formula you will find that the amount of interest on Johns 7500 loan was 3750. This means in the formula P 100000.
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Or interest equals principal amount times interest rate times amount of time. The formula to calculate compound interest is to add 1 to the interest rate in decimal form raise this sum to the total number of compound periods and multiply this solution by the principal. The interest rate is 6 per annum or yearly.
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Simple Interest Equation Principal Interest A P 1 rt Where. R Rate of Interest per year in decimal. I Interest Amount. Using this formula you will find that the amount of interest on Johns 7500 loan was 3750.
