collect the information about
How they find simple interest
and compound interest and
note the difference between
them.
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Compound interest represents the amount you earn from your initial investment in addition to the interest you earn – on top of the interest that has already accrued. You can calculate compound interest using the formula, A=P(1+r/n)nt. A is the amount you have after compounding. The value P is the principal balance.
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Answer:
Step-by-step explanation:
Compound interest represents the amount you earn from your initial investment in addition to the interest you earn – on top of the interest that has already accrued. You can calculate compound interest using the formula, A=P(1+r/n)nt. A is the amount you have after compounding. The value P is the principal balance.
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