Simple Interest
Simple interest: final amount and interest, annual rate or time using S = P(1 + rt/100), with the solution.
What to find:
Simple interest is charged on the principal only, so the income is the same every year. If interest is added to the deposit and earns more interest, it is compound interest.
Formula
S = P · (1 + r · t / 100)
P is the principal, r is the annual rate in percent and t is the time in years.
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