For K-12 kids teachers and parents. P is the value of each payment. SI P R T 100 Where SI simple interest.
The difference in money between compound interest and simple interest is 144196 - 1280 16196.
And by rearranging that formula see Compound Interest Formula Derivation we can find any value when we know the other three. For K-12 kids teachers and parents. Interest 5 of pounds600 frac5100 times 600 pounds30. As you will see in the examples below the simple interest formula can be used to calculate the interest earned the total amount and other values depending on the problem.