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Simple Interest Calculator

This calculator determines the simple interest earned on a principal amount over a given time period at a specific annual interest rate.

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Input:

• p: Principal amount (the initial amount of money)
• t: Time period (in years)
• r: Annual rate of interest (as a decimal, e.g., for 5% use 0.05)

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Output:

The formula for simple interest is:

$$\text{Simple Interest} = p \times t \times r$$