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asked 9 months ago
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The formula of simple interest on principal is as follows:
I = Pnr
where, p = principal, n = number of years and r = interest rate
Now suppose, that an investor has invested $20000 at 9% for 3 years then the interest on principal can be calculated as follows:
I = Pnr
I = 20000*0.09*3
I = 5400
This means that the investor will receive $5400 interest payment in the three years.
I = Pnr
where, p = principal, n = number of years and r = interest rate
Now suppose, that an investor has invested $20000 at 9% for 3 years then the interest on principal can be calculated as follows:
I = Pnr
I = 20000*0.09*3
I = 5400
This means that the investor will receive $5400 interest payment in the three years.
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