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What does the P represent in the formula's for simple and compound interest?A The initial amount of the loanB The interest rate as a decimalC The length of the loan in year…

What does the P represent in the formula's for simple and compound interest?A The initial amount of the loanB The interest rate as a decimalC The length of the loan in year…
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What does the P represent in the formula's for simple and compound interest?A The initial amount of the loanB The interest rate as a decimalC The length of the loan in years

asked
User Ziima
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7.6k points

1 Answer

2 votes

Given the formula for simple interest:


I=P\ast R\ast T

Given the formula for compound interest:


undefined

answered
User Javier Larroulet
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8.0k points
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