| Developer: | RS Creator (13) | ||
| Price: | * Free | ||
| Rankings: | 0 | ||
| Reviews: | 0 Write a Review | ||
| Lists: | 0 + 0 | ||
| Points: | 0 + 0 ¡ | ||
| Google Play | |||
Description
The rate at which you borrow or lend money is called the simple interest. If a borrower takes money from a lender, an extra amount of money is paid back to the lender. The borrowed money which is given for a specific period is called the principal. The extra amount which is paid back to the lender for using the money is called the interest.
You calculate the simple interest by multiplying the principal amount by the number of periods and the interest rate. Simple interest does not compound, and you don’t have to pay interest on interest. In simple interest, the payment applies to the month’s interest, and the remainder of the payment will reduce the principal amount.
What is a Simple Interest Calculator?
A simple interest calculator is a utility tool that calculates the interest on loans or savings without compounding. You may calculate the simple interest on the principal amount on a daily, monthly, or yearly basis. The simple interest calculator has a formula box, where you enter the principal amount, annual rate, and period in days, months, or years. The calculator will display interest on the loan or the investment.
How Does Simple Interest Calculators work?
The simple interest calculator will show the accrued amount that includes both principal and the interest. The simple interest calculator works on the mathematical formula:
A = P (1+rt)
P = Principal Amount
R = Rate of interest
t = Number of years
A = Total accrued amount (Both principal and the interest)
Interest = A – P.
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- Version: 1.3
- Updated:
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Developer
- RS Creator
- Platforms: Android Apps (13)
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- Points: 3 + 0 ¡
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Additional Information
- Version: 1.3
- ID: com.rscreator.simple_interest_calculator
- Category:
Android Apps›Tools - OS:
Android 4.4 - Size:
19 Mb - Content Rating:
Everyone - Google Play Rating:
0 - Updated:
- Release Date:
Contacts
- Website:
https://rjstudyinfo.com
«Simple Interest Calculator» is a Tools app for Android, developed by «RS Creator». It was first released on and last updated on . This app is currently free to download. This app has not yet received any ratings or reviews on AppAgg. AppAgg continuously tracks the price history, ratings, and user feedback for «Simple Interest Calculator». Subscribe to this app or follow its RSS feed to get notified about future discounts or updates.
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