The formula for simple interest in Excel is =<cell with principal value>*<cell with rate of interest>*<cell with time period>. If these three values are mentioned in the A1, B1, and C1 cells, your ...

What is Simple Interest? Definition, Formula, and Examples Story by [email protected] (Libby Kane, CFEI) • 1w ...

And if you similarly tweak the CUMIMPT formula, you'll see that you've paid about $24,000 in interest at the halfway point, for a total of $66,612.30 in five years.

The formula for simple interest is principal times the interest rate times the period. Usually period is expressed as a fraction of 12. For example, one month of interest will be 1/12.

Therefore, the simple interest on Rs. 78,000 at 10% per annum for 9 years will be Rs. 70,200. So, now you know that calculating Simple Interest is as easy as ABC.

Multiply the deposit amount by the interest rate by the period of time the deposit earns interest. In the example, $1,000 times 5 percent times 0.5 equals $25.