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Using simple interest is easier for people to understand. Customers will be able to manage their payments if a business uses simple interest.
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∙ 9y ago
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The amount of money charged for borrowing or using money?
Simple Interest
What are four advantages of using price as an allocating mechanism?
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.
Difference between simple and compound interest?
Simple interest is based on the original principle of a loan. Simple interest is generally used on short-term loans. Compound interest is interest added to the principal of a deposit or loan so that the added interest also earns interest from then on.
Disadvantage of simple interest?
Simple interest is calculated on the principal amount only, which may sound like a good idea at first. The problem with simple interest loans is that the interest is calculated daily instead of monthly. This means you will end up paying more in interest with a simple interest loan.
What tax advantages regarding interest rates?
The tax advantages regarding interest rates is that there are tax deductions for the interests payable. This would translate to repayment of lower interest rates.
What are the advantages and disadvantages of simple interest?
what are the usefulnes of simple interest to 1, organisation, 2. public enterprises, 3. individual?
What are the advantages of using a pictograph?
They are simple and easy to read and understand.
Solve simple investment problems using the simple interest rate method?
find the interest on $4000 at 3.5% annual interest for 1 year 6 months
The amount of money charged for borrowing or using money?
Simple Interest
What are four advantages of using price as an allocating mechanism?
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.
C program algorithm for simple interest using while loop?
Not used
How long it would take for 20500 to earn an interest of 59648.75?
That would also depend on the interest rate, and whether you are using simple or compound interest.
What is the formula for finding time when using simple interest?
time= interest/principal x rate likee yeahh thats it
What are the advantages of using Shark Bite fittings?
They are simple and quick to connect, and can be re-used.
What are the advantages of using robots?
To reduce work and make things more simple, and for sources of knowledge.
What is the Formula for simple interest rate?
The answer for rate in simple interest is =rate= simple interest\principle*time
What is the calculation for a simple compound interest rate?
There is simple interest and there is compound interest but this question is the first that I have heard of a simple compound interest.
