R Rate of Interest per year as a percent. N number of periods. Suppose you give 100 to a bank which pays you 5 simple interest at the end of every year.
Suppose you give 100 to a bank which pays you 5 simple interest at the end of every year.
R Rate of Interest per year in decimal. Owners should calculate the statement of retained earnings at the end of each accounting period even if the amount of dividends issued was zero. P Principal amount. T Time Period involved in months or years.