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Trace Floyd
Mathematics
24 December, 00:00
How do u find interest rate
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Marlene Mosley
24 December, 00:24
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A = P (1 + rt)
A = Total Accrued Amount (principal + interest) P = Principal AmountI = Interest Amountr = Rate of Interest per year in decimal; r = R/100R = Rate of Interest per year as a percent; R = r * 100t = Time Period involved in months or years
From the base formula, A = P (1 + rt) derived from A = P + I and I = Prt so A = P + I = P + Prt = P (1 + rt)
Note that rate r and time t should be in the same time units such as months or years. An example would be ...
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Roth
24 December, 00:29
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A = P (1 + rt)
A = Total Accrued Amount (principal + interest)
P = Principal Amount
I = Interest Amount
r = Rate of Interest per year in decimal; r = R/100
R = Rate of Interest per year as a percent; R = r * 100
t = Time Period involved in months or years
From the base formula, A = P (1 + rt) derived from A = P + I and I = Prt so A = P + I = P + Prt = P (1 + rt)
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