Simple Interest Calculation
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To use this document, go to the File menu and "Make a copy" for your own use (do not request access)
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Formula: I = P x r x t
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Enter your details in the green boxes
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Principal Amount (P)Rate in Decimal Format (r)Time Periods (t)Interest Earnings (I)For more information, visit the pages below:
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How Simple Interest Works & How to Calculate
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How to Convert an Interest Rate to Decimal Format
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1000.0515
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Example: Using simple interest, how much will you earn investing \$100 at 5% for one year?
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*IMPORTANT: these numbers and formulas might not be accurate or appropriate for your situation
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You MUST verify all details, calculations, and projections with your financial institution before making any decisions.
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