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AJ PHP Software Source Code Financial Library
Simple Interest

number simple_interest ( number, number, number )

Description:

simple_interest returns the interest earned given principal, number of periods and interest rate.

simple interest = principal X number of periods X interest rate

Source Code:

 function simple_interest (\$principal, \$number_of_periods, \$interest_rate) {   //variable and initializations   \$the_result = 0.0;   //calculate simple interest   \$the_result = \$principal * \$number_of_periods * \$interest_rate;   //return the value   return \$the_result; }

Example:

 "; echo "periods = \$periods
"; echo "interest_rate = \$interest_rate
"; echo "interest = \$interest
"; ?>

Run Example

 percent interest rate percent interest rate simple interest simple interest future worth SPCAF future worth single payment compound amount factor SPCAF present worth SPPWF present worth sing payment present worth factor SPPWF

References - Books:
Leland T. Blank and Anthony J. Tarquin.r. 1989. Engineering Economy. McGraw-Hill, Inc.
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