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which is the correct formula for simple interest. To calculate simple interest start by multiplying the principal which is the initial sum borrowed by the loans interest rate written as a decimal. The ending balance or future value of an account with simple interest can be calculated using the following formula.
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The calculation of simple interest is based on the following formula. SI P R T 100. Group of answer choices.
R Rate of Interest per year as a percent.
Which of the following is the correct formula for calculating future value with simple interest. T Time Period involved in months or years. Frac P R T 100 100P RT. Simple interest is a easy method of calculating the interest charge on a loan.
