In the 2016 U.S. News Best High Schools rankings, there are 29 North Carolina schools with silver medals and 109 with bronze medals. Fifteen schools earned gold medals, including Raleigh Charter High School, located in the state capital of Raleigh. Top Ranked North Carolina Schools.
simple interest. Definition. The interest calculated on a principal sum, not compounded on earned interest. Use simple interest in a sentence. â You need to make sure that you are calculating all of the simple interest before you decide on how to proceed.
Simple Interest â Definition and Calculation. When we borrow money we are expected to pay for using it â this is called interest. There are three components to calculate simple interest: principal (the amount of money borrowed), interest rate and time. Formula for calculating simple interest: I = Prt. Where, I = interest P = principal r = interest rate (per year) t = time (in years or fraction of a year) CALCULATING SIMPLE INTEREST EXAMPLES. Example: Alan borrowed $10,000 from the bank to purchase a car. He agreed to repay the amount in 8 months, plus simple interest at an interest rate of 10% per annum (year). If he repays the full amount of $ 10,000 in eight months, the interest would be: P = $ 10,000 r = 0.10 (10% per year) t = 8/12 (this denotes fraction of a year) Applying the above formula, interest would be.