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simple interest payment calculator

Release time:2018-01-12

Answer:A = $11,937.50(I = A - P = $1,937.50)Equation:A = P(1 + rt)Calculation:First, converting R percent to r a decimalr = R/100 = 3.875%/100 = 0.03875 per year.Solving our equation:A = 10000(1 + (0.03875 × 5)) = 11937.5 A = $11,937.50The total amount accrued, principal plus interest, from simple interest on a principal of $10,000.00 at a rate of 3.875% per year for 5 years is $11,937.50.Share this Calculation: helpGet a Widget for this Calculator© Calculator SoupShare this Calculator & Page

 

Simple Interest Calculator A = P(1 + rt)

 

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