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Q: How do you do a simple interest problem?
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Disadvantage of simple interest?

Simple interest is calculated on the principal amount only, which may sound like a good idea at first. The problem with simple interest loans is that the interest is calculated daily instead of monthly. This means you will end up paying more in interest with a simple interest loan.


How do you figure out this math problem?

What is the amout of interest that will be earned on an investment of $8000 at 10% simple interest for 3 years


What is the Formula for simple interest rate?

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


What is the calculation for a simple compound interest rate?

There is simple interest and there is compound interest but this question is the first that I have heard of a simple compound interest.


What makes the simple interest simple?

It is interest on simply the original capital. After the first period, compound interest involves interest on the interest earned in previous periods and soit not simple.


Is the annual interest rate the same as simple interest?

Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.Usually no. Most institutions charge (and pay) compound interest, NOT simple interest.


Using simple interestWhat amount produces a loan of $1,000 to 9 months, at 6% annual interest What is the interest I of the previous problem transaction (problem 1)?

Hey, if someone reads this, don't worry about it I already found the answer but thanks for worrying.


What is the difference of simple interest and simple discount?

Simple interest refers to interest that is only paid on principal. Simple discount refers to the amount that is deducted from the amount of the loan.


Definition of simple interest?

Simple interest is a term that is used for quickly calculating the interest charge on a loan.


Difference between simple and compound interest?

Simple interest is based on the original principle of a loan. Simple interest is generally used on short-term loans. Compound interest is interest added to the principal of a deposit or loan so that the added interest also earns interest from then on.


what is the formula of simple interest?

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


What are the advantages of using simple interest?

Using simple interest is easier for people to understand. Customers will be able to manage their payments if a business uses simple interest.