Q: Which of these steps should be performed first to calculate simple interest?

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Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.

The simple interest, on an amount Y, at rate r% per year, for t years is I = Y*(r/100)*t But bank interest is always compounded, never simple.

18.90currency as an interest..

The simple interest over a period of five years is $463.70

56.72

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Draw a flow chart to calculate simple interest with 10% rate if time is greater than 2 yrs otherwise calculate simple interest with 5%.

simple interest = principle (money) times the rate times the time

When calculating simple interest, you should first

The simple interest, on an amount Y, at rate r% per year, for t years is I = Y*(r/100)*t But bank interest is always compounded, never simple.

it depends on wheather the interest is simple or compound also you should tell me how much money you put in the bank to begin with but lets calculate the interest on one dollar : if it is simple interest then: I=P*R*T where T is in years =1*18/100*1/360 interest on one dollar principal is 0.0005 $ if it is compound interest then: I= P*(R+1)^T-p =0.00046 which is about the same as the simple interest one multiply my answer by the amount that you put into the bank origonally to find out ur interest hope i helped

To calculate an interest (as money), multiply the capital, times the interest rate (divided by 100, if it is expressed in percent), times the number of periods. The above assumes simple interest; compound interest is a bit more complicated.

18.90currency as an interest..

begin enter Principal amount(Input) enter interest rate(Input) calculate simple interest(Computation/Processing) Display/Show/Print Give sound Simple Interest(output) end By Tomas Naxweka(Namibia)

1,773.60

The simple interest over a period of five years is $463.70

Another answer from Apex is... compounding frequency

algorithms is language independent