Question

Whats is the formula for simple interest? ❗️

Answer 1

A = P(1 + rt)

Explanation:

A is the final investment amount.

P is the Principal amount of money to be invested at the

Interest Rate (R%) per period for

t Number of Time Periods.

Where r is in decimal form; r=R/100; r and t are in the same units of time.

Answer 2

simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods

Explanation: