can you please explain me some examples of compound interest
Answers
Answered by
1
Answer:
COMPOUND IS A INTERST TO DO EVERYTHING IN LIFE
Answered by
2
Answer:
Hey dear mate here's the answer:-
Let's say your goal is to end up with $10,000 in 5 years, and you can get an 8% interest rate on your savings, compounded monthly. Your calculation would be: P = 10000 / (1 + 0.08/12)(12×5) = $6712.10. So, you would need to start off with $6712.10 to achieve your goal
Similar questions