# Leon Financial Accounting Calc

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Calculator / Last modified by Administrator on 2019/05/16 07:11
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The Leon Financial Accounting calc is used to calculate the following finance and accounting equations:

#### Example

In Calculating the Simple Interest earned below is the solution based on the Calc.

1) Dick takes a loan of $8,000 to buy a used truck at the rate of 9 % simple Interest.Calculate the annual interest to be paid for the loan amount. Solution: From the details given in the problem Principle = P =$8,000 and R = 9% or 0.09 expressed as a decimal.

As the annual Interest is to be calculated, the time period T =1.

Plugging these values in the simple Interest formula,

I = P x T x R

# 720.00

Annual Interest to be paid = \$720

Example Retrieved from:
http://www.ask-math.com/solved-examples-on-simple-interest.html//