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what is the formula for rate in simple interest. By inputting these variables into the formula 1000 times 10 times 3 years would be 300. I Interest rate per time period.
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Using the formula for simple interest to find the principal the rate or the time. I Prt becomes r IPt Remember to use 1412 for time and move the 12 to the numerator in the formula above. SI P R T 100 Where SI simple interest.
Using the formula for simple interest to find the principal the rate or the time.
The formula to calculate simple interest is I PRT. 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. In simple in it also written as Simple Interest rate PRT100. Finance for Non Finance Managers Course 7 Courses Investment Banking Course 117 Courses 25 Projects Financial Modeling Course 3 Courses 14 Projects So Interest Amount using simple interest rate formula will be.
