Using simple interest is easier for people to understand. Customers will be able to manage their payments if a business uses simple interest.
what are the usefulnes of simple interest to 1, organisation, 2. public enterprises, 3. individual?
They are simple and easy to read and understand.
find the interest on $4000 at 3.5% annual interest for 1 year 6 months
Simple Interest
The advantages of using price as an allocating mechanism include that it is a simple system and it is already known. Two other advantages are that it is easy to understand and it is universal.
Not used
That would also depend on the interest rate, and whether you are using simple or compound interest.
time= interest/principal x rate likee yeahh thats it
They are simple and quick to connect, and can be re-used.
To reduce work and make things more simple, and for sources of knowledge.
The answer for rate in simple interest is =rate= simple interest\principle*time