Simple and Compound Interest

A quick and easy method of calculating the interest charge on a loan.

In the simple interest formula I = Prt, what does P stands for?

In the compound interest formula $$F=P\left(1+\frac{r}{n}\right)^{tn}$$  , what does n stands for?

Jake invested at a bank that offers a simple annual interest of 3.5%. How much will his investment of P2,000 be after 15 years?

Kendra loaned an amount of P5,000 payable for 6 years. If the loan has a future value of P8,000, how much was the loan interest assuming it is a simple interest?

Drake invested an amount of P7,500 with a simple annual interest of 3.45%. How long will it take for it to have a future value of P8,535

How many years payable will be a loan of P8,600 with a simple interest of 4.15% with a future value of P13,239.70?

(a)  

James invested at a bank with a simple interest of 2.65%. If the investment after 10 years have a future value of P6,704.50, how much did he invest?

(a)  

Bank A offers a loan with a simple annual interest of 1.5% payable for 5 years, while Bank B offers a loan with a simple annual interest of 2.5% payable for 3 years. If you will loan an amount of P5,000, which bank should you choose?

Given that Bank A has a lower interest rate but longer maturity time, and Bank B has higher interest rate but shorter maturity time, which bank would you still choose, considering that they both wield the same maturity value and why?