A P 1 r m m t 3500 1 0015 4 4 2 360639. Simple Interest Rate Formula. The value after 2 years will be 360639.
M number of the times compounded annually 1.
The calculation of simple interest is equal to the principal amount multiplied by the interest rate multiplied by the. To illustrate we can conduct a compound interest example calculation. There are other types of questions that can be answered. Second half of the year equals 103000 initial principal of 100000 plus interest in the previous period of 3000.