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Simple Interest & Simple Discount Formulas
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Simple Interest & Simple Discount Formulas
Terms in this set (5)
Find Face Value ( P ) - Simple
P = M / 1 + RT
Principal = Maturnity Value / 1 + Rate * Time in Years
Face Value: amount shown on the face of a note
Find Interest Charge ( I ) - Simple
I = PRT
Interest = Principal
Rate
Time in Years
Find Maturnity Value ( M ) - Simple
M = P (1 + RT)
Maturnity Value = Principal ( 1 + Rate * Time in Years)
Maturnity Value: Total amount, principal and interest that must be repaid when a loan is paid off
Find Maturnity Value / Face Value ( M ) - Discount
M = P / (1 - DT)
Maturity / Face Value = Proceeds / (1 - Discount Rate * Time in Years
Maturnity Value: Total amount, principal and interest that must be repaid when a loan is paid off
Find Proceeds ( P ) - Discount
P = M - B
Proceeds = Maturnity Value - Discount
Proceeds: Amount of $ the borrower receives after subtracting the discount from the face value of a note
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