A simple interest calculator that calculates the simple interest based on the provided inputs of principal, annual rate of interest, and time period in years.
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Input the following values:
p
: Principal amountt
: Time period in yearsr
: Annual rate of interest
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The calculator will then compute the simple interest using the formula:
simple interest = p * t * r
For instance, if you input:
p
: $1000t
: 3 yearsr
: 5%
The calculated simple interest would be:
simple interest = 1000 * 3 * 0.05 = $150