Simple interest is made easy with the following.
Maturity Value `A` = Principal `P + ` Interest `P R T `
`=P (1+R+R+R...T` times)
Note: R is the (interest rate in percentage)/100.
The interest is calculated on the principal for each of the time period in `T`. That is, the interest `PR` is added `T` times.
Once the above is understood, the equation is easily derived.
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