p = principal
r= rate in decimal
a =amount or final total
t = time in years
i = accumulated interest
Simple interest:
i=prt
therefore t = i/pr
Compound interest:
a=(1+r)^t
alright I'm going to throw in logs (logarithms) baby
therefore log a = log ((1+r)^t)=t x log (1+r)
therefore t = log a / log (1+r)
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The answer for rate in simple interest is =rate= simple interest\principle*time
First you figure out the Principal, then you find the interest rate and then find the Time someone gave you to pay back loaned or borrowed money.Formula: Simple Interest= Principal*Rate*TimeExample: Principal-$25,000 Interest Rate- 6.25 simple interest- 6 years$25,000 x .0625 x 6= $9375!
I=PRT I=Interest P=Pecuniary(money) R= Rate(interest) T= Time
Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.
I = prt where I = interest, p = principal, r = rate. and t = time in years.