Question

What is simple interest and how is it found?

Answer 1

Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods. Where r is in decimal form; r=R/100; r and t are in the same units of time.

Answer 2

Explanation:

The interest charge on a loan

It's found by using the formula

A=P(1+rt)

A-Final amount

P-initial price

r-annual interest rate (in decimal form)

t-time in years