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What is the formula used to calculate simple interest?

What is the formula used to calculate simple interest?
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15 votes
What is the formula used to calculate simple interest?

User Fabian Bosler
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1 Answer

7 votes
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.
User Farshid Palad
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