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What is the Formula for simple interest rate?
The answer for rate in simple interest is =rate= simple interest\principle*time
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.
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.
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.
Definition of simple interest?
Simple interest is a term that is used for quickly calculating the interest charge on a loan.
