SI P R T 100. The Formula for simple interest helps you find the interest amount if the principal amount rate of interest and time periods are given. Discount rate discount list price.
If the bank charges Simple Interest then Alex just pays another 10 for the extra year.
R interest rate in percentage T time duration in years. Using the simple interest formula for future value. The Formula for simple interest helps you find the interest amount if the principal amount rate of interest and time periods are given. Pay the same amount of interest every year.