Simple interest (annual interest calculation) formula (ID: 87) [Edit]
Description of the Simple interest (annual interest calculation) formula
Formula for the calculation of simple interest with annual interest rate calculation periods.
Formula
\[ I=C\cdot r\cdot N \ \]
Symbols
\(C\ \)
Start capital
\(N\ \)
Number of periods (years)
\(r\ \)
Nominal annual interest rate