Computes the total amount paid at the end of n periods using simple interest
numeric vector that contains the present value(s)
numeric vector that contains the period value(s)
numeric vector that contains the interest rate(s) as whole number or decimal
Simple Interest is expressed as
I = Pni
S_n = P + I
S_n = P≤ft(1 + ni\right)
the "principal amount (lent or borrowed)"
the "total amount paid back"
the "simple interest"
the "interest rate per interest period"
the "number of interest periods"
SimpIntPaid numeric vector that contains the total amount paid at the end of n periods rounded to 2 decimal places
Chinyere Onwubiko, An Introduction to Engineering, Mission, Kansas: Schroff Development Corporation, 1997, page 205-206.
William G. Sullivan, Elin M. Wicks, and C. Patrick Koelling, Engineering Economy, Fourteenth Edition, Upper Saddle River, New Jersey: Pearson/Prentice Hall, 2009, page 116.
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