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what is the formula for simple interest quizlet. The r stands for the rate. The P represents the principle.
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So by using simple interest 20000 at 4 for 5 years is 20000004 800 in interest per year. Rose invests 2600 in an account yielding 41 simple interest and Dennis invests 2200 in an account yielding 57 simple interest. The simple interest formula is fairly simple to compute and to remember as principal times rate times time.
1 time a year.
Interest principal rate time. Months in a year. Based on years or part of a year. In simple interest formula i stands for.
