HURRY 10 POINTS I NEED THIS FOR AN ASSINEMENT What is the formula for finding simple interest? Please explain the meaning of each of the variables in the formula.

Question

asked Jul 11, 2020 54.4k views

1 Answer

Florex · Answer 1 · 2020-07-17T10:57:47+0000

Answer:

A = P(1 + rt)

Explanation:

A = final amount

P = initial principal balance

r = annual interest rate

t = time (in years)