SIMPLE INTEREST CALCULATOR principal rate % pa rate pa $2,000.00 5 0.05 years 2 $200.00 months 5 weeks 34 days 76
term interest
Simple interest is often calculated when money is invested/borrowed for a short period of time. Another example of simple interest is when interest amounts are paid regularly to the investor or by the borrower. Enter formulas in C9, D9 and E9. Look at the formula in B9 for help. Check that your worksheet behaves the same as s.i.1. You should get the same interest answers for terms of 1 year, 12 months, 52 weeks and 365 days.
investor or by the borrower.
nd 365 days.