In National Lifeskills Maths learn about simple interest which is calculated on a yearly basis (annually) and depends on the interest rate.

In National Lifeskills Maths learn about simple interest which is calculated on a yearly basis (annually) and depends on the interest rate.

Learn how to calculate the Simple Interest in Excel either for a single entry or a range or entries, between two dates, using this forumula.

Interest is defined as the cost of borrowing money or the rate paid on a deposit to an investor. It can be classified as simple interest or compound interest.