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what is the formula for solving simple interest. Simple interest is a simple and easy method of calculating the interest charge on a loan. By inputting these variables into the formula 1000 times 10 times 3 years would be 300.
How To Calculate The Simple Interest Formula How To Solve Interest Problems Using The Simple Interest Formu Simple Interest Simple Interest Math Word Problems from www.pinterest.com
Simple Interest 560. I Interest rate per time period. P Principle dollars.
Interest may be computed as simple interest which is calculated by multiplying the amount of money borrowed by the interest rate and the length of the loan.
N Number of time periods of loan. Get your calculator and check to see if youre right. P Principal Amount. Compound Interest Principal 1 Rate Time Principal.
