simpleInterest

simpleInterest(principal, rate, time) → number · Financial

Calculate simple interest: principal rate time.

• principal (required): the principal amount

• rate (required): annual interest rate (e.g. 0.05 for 5%)

• time (required): time in years

simpleInterest(1000, 0.05, 3)            // 150.0 (interest on 1000 at 5% for 3 years)