Simple Interest

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A Simple Interest is a interest payment on the principal excluding any compound interests or additional fees.

[math]\displaystyle{ S=\frac{r\times B \times m}{n} }[/math]



References

2016

[math]\displaystyle{ \frac {r \cdot B \cdot m}{n} }[/math]
where
r is the simple annual interest rate
B is the initial balance
m is the number of time periods elapsed and
n is the frequency of applying interest.