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to use each term properly, the following equations will help you:
I-interest =P-principalx R-rate
P-principal=I-interestx R-rate
R-rate=I-interest XP-principal
Going back to the audience query about the interest of a Php 15,000.00 loan. payable within 12 months at 2% interest monthly, it can be coputed
as follows :
table:
Principal: Php 15,000.00
Rate: 2% monthly
2% x 12 months = 24%
Interest: ? n/a
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How do you draw an algorithm to find the simple interest?
The answer depends on what information you do have.
What is the Formula for simple interest rate?
The answer for rate in simple interest is =rate= simple interest\principle*time
The difference between the simple and compound interest on a certain sum is Rs250 for two years at 5 percent Pa per annum Find the sum?
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
How do you find simple interest rate?
P*r*t divided by 100
How do you solve interest rate math problems?
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!
