Simple interest

Formula

Simple interest formula
Isimp
simple interest
r
period interest rate
B0
initial balance
m
number of time periods

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.rnSimple interest is calculated only on the principal amount, or on that portion of the principal amount that remains unpaid.

Calculator (how to use calculator?)

Simple interest formula
r
B0
m
Isimp
Precision

Formula code








References

  1. Wikepedia:Simple interest.

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