I P R T. A Total Accrued Amount principal interest P Principal Amount. I 100000 5 5.
R Rate of Interest per year in decimal.
In many simple interest problems you will be finding the total interest earned. Finance for Non Finance Managers Course 7 Courses Investment Banking Course 117 Courses 25 Projects Financial Modeling Course 3 Courses 14 Projects So Interest Amount using simple interest rate formula will be. Likewise to calculate simple interest month-wise use the number of months for t and divide the interest rate by 12. T Time Periods involved.