Simple Interest (HSC SSCE Mathematics Standard): Flashcards

Fixed % of principal, remains constant over time

Flat interest

Initial amount borrowed or invested

$I = Prn$

$A = P + I$

Divide by 100 (e.g., 9% = 0.09)

$\frac{1}{12}$ year

26

Total to be paid ÷ number of repayments

Straight line