This calculator for simple interest-only finds I the simple interest where P is the Principal amount of money to be invested at an Interest Rate R per period for t Number of Time Periods. R interest rate in percentage T time duration in years. Calculate Interest solve for I.
Maths Literacy Grade 11 Finance interest banking inflation Related Resources.
The amount A is the original principal P plus the interest I earned over the period of time t. We can use the simple interest formula to find a formula for the amount of money A that will be in a simple interest account after t years. I Prt i. Principal the amount originally put into the account r.