2. What will you get if you divide the simple interest by the product of the rate and time?
a. present value of compound interest
b. present value of simple interest
c. maturity value of compound interest
d. maturity value of simple interest
a. present value of compound interest
b. present value of simple interest
c. maturity value of compound interest
d. maturity value of simple interest
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Present Value of Simple Interest
Simple Interest is a method of computing the amount of interest that is to be paid on the principal. It is calculated using a simple formula. The formula is given by multiplying the principal amount with the rate of interest and the number of periods for which the interest has to be paid. The interest is calculated only on the amount initially invested, and there is no interest in interest.
Answer:
b. present value of simple interest
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