The Formula for simple interest is used to calculate the interest amount if time and the principal amount are known. Simple Interest 560. So now we will do the calculation this using the simple interest equation ie.
For interest only use the simple interest calculator.
N number of periods. This means that the simple. The formula for Simple Interest is Simple Interest Principal Interest In other words it can be written as A P 1 r t. Calculate simple interest on the principal only I Prt.