Using formula 1 the interest you pay on your first monthly payment is 10000 610012150. Using the Simple Interest Formula 1. Simple Interest Equation Principal Interest A Total Accrued Amount principal interest P Principal Amount I Interest Amount r Rate of Interest per year in.
The interest rate of your.
What amount of money is loaned or borrowedthis is the principal amount. Simple Interest Equation Principal Interest A Total Accrued Amount principal interest P Principal Amount I Interest Amount r Rate of Interest per year in. How to calculate your interest To begin your calculation enter your starting amount along with the annual interest rate and the start date assuming it isnt today. In this equation Pmt is the monthly payment amounts r is the monthly interest rate and n is the number of months.