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How do you derive simple interest?

 Jun 29, 2021
 #1
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Simple interest is generally the interest rate per year without compounding.

 

Take the interest rate in decimal form      multiply by the number of years     and  multiply by the deposit amount to get the interest earned.

 

Example :    1500 deposit    10% interest   4 years        .10  *  4  *  1500

 Jun 29, 2021

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