A beginner lesson on how to calculate simple interest

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A simple lesson about simple interest: you simply multiply the principal, the interest rate (written as a DECIMAL), and the time. That is because the interest simply is a certain percentage OF the principal amount (so that's why we multiply the percentage and the interest rate), multiplied by the amount of time. So, the formula for simple interest, I = Prt, makes sense.

One thing to take note of is that sometimes the interest rate may be given as ANNUAL rate, whereas the time period is in months. In this case, you can either calculate the monthly interest rate, or convert the time period into years.
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I was doing really bad in this in math and your video helped me a lot! From Kelley’s kid

KelleySmithMusic
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This video was kinda awkward (no offense) but really helped me in my test, I got 96% all thanks to your help 💜

TheHeroSight
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vry simple way to understand.... thxx mam
☺☺☺

MrLoku
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Thank you teacher..thank you very much 🙂🙂🙂🙂🙂🙂🙂🙂🙂🙂🙂🙂🙂

sandipanroy
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I can say you have really helped me with this calculation of maths

beatriceduah
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I don’t understand the top right problem because it is in month like I don’t get monthly because I tried to convert the rate divided by 12 and didn’t get the same answer when I multiplied it all out.

OmPatel-hlri
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This makes perfect sense. Thank you. My Real Estate class gave us a different formula which I can't understand. Balance after t years = P x (1 + r t). I don't know what the 1 is for. The example also made no sense. $5, 000 x (1 + 12% x 0.5) = $5, 300. Without the 1 it works, but with it I came up with $5, 150. Does anyone know what I am doing wrong or why the 1 is in the formula. So confused. Thanks.

SJ-rt
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Thankyou for this video! It helped alot! 😊

delilah
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This is my second week having to watch this video for a different peice of work

lynneedwards
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Mam, could you please help me for the following.: a person deposits $100 in the beginning of each years. He earns 2% simple interest. How much will he earn after 5 years

ashvinkalleejaisriram
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mam, how to solve this question In the english and mathematics tests, williams scores were 6 out of 8 and 9 out of 10, repectively. In which test did he get a higher score please answer it in a formula and please also solve it

maedenclaus
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wow you help me and thank you and i will sup for you every time

waluwatefera
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Still don't understand can you make it simpler

dwightduncan
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I borrow $30, 000 for 11 years at 8%. Repayment in principal in 1 year is?? I am stuck please help

norbertodehoyosjr