Simple Interest

Formula

Simple Interest formula
SI
Simple Interest
P
Principal or Sum
R
Rate per Annum
T
Time

Formula description

Interest is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets. It is most commonly the price paid for the use of borrowed money, or, money earned by deposited funds.

Calculator (how to use calculator?)

Simple Interest formula
P
R
T
SI
Precision

Formula code

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References

  1. wikipedia:Simple Interest.

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