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what is the simple interest formula and what does each variable represent. If you want to calculate simple interest over more than 1 year calculate the interest earnings using the principal from the first year multiplied by the interest rate and the total number of years. If you are given months use a fraction to represent it as years.
Simple Interest Calculator And Formula I Prt from www.vertex42.com
I periodic interest rate. If you want to calculate simple interest over more than 1 year calculate the interest earnings using the principal from the first year multiplied by the interest rate and the total number of years. I Interest Amount.
How much should she deposit into her account each week to meet her goal.
P Principal Amount. T Time Periods involved. I Interest Amount. If you want to calculate simple interest over more than 1 year calculate the interest earnings using the principal from the first year multiplied by the interest rate and the total number of years.
