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**SIMPINT**(//principal,rate//)

| **SIMPINT** | Returns simple (uncompounded) interest. |
| //principal// | A numeric constant or variable containing the beginning balance, initial deposit, or loan. |
| //rate// | A numeric constant or variable containing the simple or contract interest rate. |

**SIMPINT **determines an interest amount based solely on a given amount (//principal//) and the simple interest rate (//rate//). The amount returned ONLY reflects interest earned.

**Return Data Type:**     DECIMAL

**Internal Formulas:**

SIMPLE INTEREST = principal * rate

**Example:**

** PeriodicRate = AnnualInterestRate / (PeriodsPerYear * 100) !Set up variables**

** ActualRate = PeriodicRate * TotalPeriods**

** SimpleInterestAmount = SIMPINT(Principal,ActualRate)    !Call SIMPINT**

** SimpleInterestAmount += Principal              !Add in principal**