👉 Coticing is a method of calculating interest on loans or investments. It involves using the formula for simple interest, which is \(I = P \cdot r \cdot t\), to calculate the total amount of interest earned over time. The rate of interest (\(r\)) is the annual percentage rate (APR) that you are charging the borrower, and the number of years (\(t\)) between when you lend money and the time it starts earning interest is the period of