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what is a the formula for simple interest. Simple Interest of an amount is calculated by multiplying the interest rate by the principal amount and the time period. 1 Simple Interest SI formula.
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P Principle dollars. Simple Interest Rate Formula Simple interest is levied when a loan is borrowed for one year or less. P Principal Amount.
R r 100.
This Amount includes the Principal and the Simple Interest. Simple Interest 5000 105 2500. SI P R T 100. P principle I daily interest rate N number of days between payments beginaligned textSimple Interest P times I times N textbfwhere.
