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- Simple Interest Calculator

**Simple interest is calculated solely on the amount initially invested.**
This calculator can help you deal with many different kinds of simple interest problems.
**The calculator prints an easy-to-follow, step-by-step explanation.**

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Examples:

example 1:ex 1:

You put $1,000 into a bank account that pays 7% simple interest each year.
You left the money in there for 3 years. Determine the interest earned and the total amount at the end of three years.

example 2:ex 2:

You deposit $12000 into a bank account with a monthly interest rate of 1.5%. You had the money in there for $210 days. Determine the amount of interest earned.

example 3:ex 3:

You put money into a bank account that pays 4% simple interest each year.
After three years, you collected $72 in interest. How much was the deposit (principal)?

example 4:ex 4:

You put money into a bank account that pays 2% simple interest every six months.
After 9 months, you received $15 in interest. How much was the principal?

example 5:ex 5:

You deposited $1000 into a bank account and received $50 in simple interest after three months.
What was the interest rate?

example 6:ex 6:

You deposit $350 into a bank account with a monthly interest rate of 1.2%.
Determine the length of time the money was in the bank if you received $9 in interest.

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