1. The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a______.

The _____ interest rate is a basic rate that shows how much your money will earn in one year.A.introductoryB.variableC.nominalD.realSUBMITarrow_backPREVIOUS

Simple interest rate for a term deposit implies that A.interest are calculated with respect to the initial investment in the term depositB.interest for a given compounding period is calculated with respect to the original amount invested in the term deposit plus the last interest paid.C.interest is calculated with respect to an amount that incorporates all previous interestsD.the interest rate is variable.

Implement a program to calculate the Simple Interest by using the formula given below and display the calculated Simple Interest.Simple Interest = (principal*rate of interest*time)/100

The simple interest formula is I=Prt.  The P represents the principal.  The principal is ___________________.  *1 pointthe percent interest for his yearthe amount of money borrowed or depositedthe amount taxedthe amount of interest

1) Rajiv deposited Rs.10,000 into a savings account that offers a simple interest rate of 6% per year. Ifhe keeps the money in the account for 3 years:a. Write the formula for finding the simple interest when the principal (P), rate (R), and time (T) aregiven.b. Calculate the total interest earned by Rajiv.c. Find the final amount in his savings account after the interest is added