if principal, time and rate are given how do i find the difference between Compound interest and Simple Interest?
P=12,000 n=1 and a 1/2 yrs. R=10% per year
formulae that i know:
CI - SI for 2 years = P(R/100)^2 CI-SI for 3 years = P(R/100)^2 (R/100 + 3)
but none of these will work for 1 and a half years, so what formula do i use? or how do i use these formulae in this context?