3 years ago

How do you find total bill for simple interest

1 answer:

8 0

Answer:

I=Prt, I=simple interest, P=principal (starting amount), r=interest as a decimal, t =number of times the interest is paid or "time"

For example the simple interest earned on a $1000 deposit earning 4% APR for ten years is:

I=1000(.04)10

I=$400.00

Step-by-step explanation:

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