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Is I=P R T The Formula Used To Calculate Interest On A Loan?

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    The formular I=P.R.T is only for simple interest.
    It takes a different form if the interest were to be compounded.

    If the interest was compounded, you would use:
    I=P[(1+(r/n))nt - 1]  Where n= number of times compounded in a year
    1 0

    Ngusale 

    answered 11 months ago

      True I=P R T is the formula used to calculate interest on a loan
      0 0

      Lacy 

      answered 11 months ago

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