How do you calculate interest rates?
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Answer:
The amount of interest can be calculated by using the formula:I = Prt , when: Principal, Rate and Time are Known.
Anonymous at ChaCha Visit the source
Other answers
I=Prt is the correct formula where I stands for interest, P is principal, r is rate, and T is time. Need more info? Ask
Brian Cross
The amount of interest can be calculated by using the formula:I = Prt , when: Principal, Rate and Time are Known.
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