+118723 I = Prt
where
I is the amount of interest that you will earn.
P is the principle - that is the amount of money that you had to start with.
r is the interest rate (usually per year) as a decimal. eg 4% then r=0.04
t is the number of time periods(usually years)
The amount that you will end up with will be P+I
+118723 I = Prt
where
I is the amount of interest that you will earn.
P is the principle - that is the amount of money that you had to start with.
r is the interest rate (usually per year) as a decimal. eg 4% then r=0.04
t is the number of time periods(usually years)
The amount that you will end up with will be P+I
