How to: Calculate Simple Interest
V=value
P=principal (initial) deposit
r=rate of investment
t=time
Simple interest means the interest is calculated off of the initial investment. Some real world examples include CD's and car loans.
V=value
P=principal (initial) deposit
r=rate of investment
t=time
Simple interest means the interest is calculated off of the initial investment. Some real world examples include CD's and car loans.