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HURRY 10 POINTS I NEED THIS FOR AN ASSINEMENT What is the formula for finding simple interest? Please explain the meaning of each of the variables in the formula.
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HURRY 10 POINTS I NEED THIS FOR AN ASSINEMENT

What is the formula for finding simple interest? Please explain the meaning of each of the variables in the formula.

User Dan Wich
by
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1 Answer

3 votes

Answer:

A = P(1 + rt)

Explanation:

A = final amount

P = initial principal balance

r = annual interest rate

t = time (in years)

User Florex
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