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22 June, 22:08

How do you find total bill for simple interest

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  1. 22 June, 22:17
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    I=Prt, I=simple interest, P=principal (starting amount), r=interest as a decimal, t = number of times the interest is paid or "time"

    For example the simple interest earned on a $1000 deposit earning 4% APR for ten years is:

    I=1000 (.04) 10

    I=$400.00
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