Categories: Formula

Simple Interest Formula: Calculate Forex Trading Interests Accurately

Simple interest is a straightforward formula used to calculate interest owed on a loan or earned on an investment. It involves the principal, interest rate, and the time period. The principal is the amount that is initially borrowed or invested, the interest rate is the rate at which interest is paid for the principal, and the time period is the duration of the loan or investment. The formula for simple interest is I = P x R x T, where I is the interest earned or owed, P is the principal, R is the interest rate, and T is the time period. With this formula, the amount of interest owed can easily be calculated at any point of the loan or investment duration.

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