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how to do interest rate math. Choose whether you want to calculate simple interest I principal P interest rate r or durationperiod t. Suppose you give 100 to a bank which pays you 5 simple interest at the end of every year.
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Finally lowercase t is the amount of time. The formula to. Interest 1000.
Once you know the basics of this equation the math is easy.
Using the Simple Interest Formula 1. Formula for simple interest is. Choose whether you want to calculate simple interest I principal P interest rate r or durationperiod t. How many words can Charlie type in 13 minutes.
