How to calculate annual simple interest rate
Related: If you want to calculate exact day compound interest, then use this interest calculator. Starting Amount (PV) ?: Annual Interest Rate?: Days (-9,999 To solve this, multiply 12,000 by the decimal equivalent of 5% (.05). This gives a total Your bank charges you interest at an annual rate of 3.5%. How much step 1: multiply the given principal sum P, interest rate R in percentage & time period in years together. step 2: for yearly interest payable, divide the result of above