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Which of the following is not needed to calculate simple interest?

A. Yearly interest rate
B. Time
C. Principal
D. Reinvestment amount

User Virne
by
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2 Answers

2 votes

Reinvestment amount :>

User Harlin
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7 votes

Answer:

D. Reinvestment amount is the correct answer.

Step-by-step explanation:

Reinvestment amount is not needed to calculate simple interest.

To calculate simple interest Principal,Yearly interest rate and Time are required.

Simple interest is an easy method to calculate the interest charged on the loan.

Simple Interest is calculated by using this formula= yearly Interest Rate x Principal x time.

Simple interest benefits customers that pay their credits on time at the start or every month.

User Cmilam
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7.5k points