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what is the formula for simple interest brainly. The formula for simple interest is I prt where I the amount of interest p the amount of principal borrowed rthe rate of interest and t the amount of time in years. Terri borrows 3500 at an interest rate of 3 and plans on paying her loan over 4 years.
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P Principal Amount. R Rate of Interest per year in decimal. The formula for simple interest is I prt where I the amount of interest p the amount of principal borrowed rthe rate of interest and t the amount of time in years.
P Principal Amount.
P Principal Amount. Please mark me brainliest. R Rate of Interest per year in decimal. Base formula written as I Prt or I P r t where rate r and time t should be in the same time units such as months or years.
