Q: Who invented the simple interest formula?

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The answer for rate in simple interest is =rate= simple interest\principle*time

i=prt FACT: If an annual interest rate is given, time in the simple interest formula must be expressed in terms of years.

P(r/100)^2

I = prt where I = interest, p = principal, r = rate. and t = time in years.

I= Prt I=interest P=principal r=rate t=time

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The formula for simple interest is: A=P(1+rt)

the formula for simple interest is I=PRT (interest=principal x rate x time )

The answer for rate in simple interest is =rate= simple interest\principle*time

PxRxT 100

i=prt FACT: If an annual interest rate is given, time in the simple interest formula must be expressed in terms of years.

P(r/100)^2

I = prt where I = interest, p = principal, r = rate. and t = time in years.

I= Prt I=interest P=principal r=rate t=time

Simple Interest = p * i * n p is principle and i is interest rate per period and n is the number of periods. A = P(1 + r)n is for compound interest.

The formula for interest is I = rtP. Then r = I/tP, where t = 11/12. This calculates to a simple interest rate of 8.8 percent.

No. I is as described for the stated period.

Simple interest does not compound. In other words, If you start off with $500 and get $5 in interest, the $5 you got in interest will not be included when calculating the amount of interest you will get next year. Simple interest can be calculated by the formula i = prt, where i is the amount of money earned from the interest, p is the principle (starting money), r is the rate (as a decimal,) and t is the time in years. Another formula is used to calculated the accumulated amount: A = p(rt + 1), where A is the accumulated amount.