Simple Interest Calculate Question

by Robert Fong
(Rancho Palos Verdes,CA., USA)

Please give me the equation for the simple interest calculator.

Thank you

Comments for
Simple Interest Calculate Question

Jan 22, 2010

Simple Interest Formulas
by: Dee Reavis

The simple interest calculator has 2 equations. The first simple interest formula used is for calculating payments. It is:

A = payment amount
P = principle or amount of loan
i = interest rate
n = number of time periods

The second simple interest formula is for finding the compounded value of your savings after a given amount of time. It is:

There is only one new variable that is not defined above:

F = future value of money

Knowing the formulas helps you to understand how the values are calculated. However, you will want to use either business calculators or spreadsheets to do the actual calculations.

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