What is the formula for simple interest Math, Formulas, Simple Interest
#Math #Formulas #SimpleInterest
What is the formula for simple interest?
Simple Interest, i, is a percentage of a principal amount p, calculated for a specified period, t, for a given annual rate of interest, r. It is calculated as: i = prt
Simple Interest, i, for a principal amount of $1000, calculated for a specified period, 1 year, for a given annual rate of interest, 5% is, $50.
Final amount A, is addition of initial principal, p, and simple interest, prt. A = p + prt
Final amount A for a principal amount p of $1000, calculated for a specified period, 1 year, for a given annual rate of interest, 5% is $1050.
Simple interest is calculated once. If interest is calculated several times , we are dealing with the compound interest.
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Видео What is the formula for simple interest Math, Formulas, Simple Interest канала Kimavi
What is the formula for simple interest?
Simple Interest, i, is a percentage of a principal amount p, calculated for a specified period, t, for a given annual rate of interest, r. It is calculated as: i = prt
Simple Interest, i, for a principal amount of $1000, calculated for a specified period, 1 year, for a given annual rate of interest, 5% is, $50.
Final amount A, is addition of initial principal, p, and simple interest, prt. A = p + prt
Final amount A for a principal amount p of $1000, calculated for a specified period, 1 year, for a given annual rate of interest, 5% is $1050.
Simple interest is calculated once. If interest is calculated several times , we are dealing with the compound interest.
Thank You
Please visit Kimavi.Com for one minute video and quizzes
Видео What is the formula for simple interest Math, Formulas, Simple Interest канала Kimavi
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