Math, asked by vivekyadav26224, 7 months ago

compound interest and simple interest​

Answers

Answered by madhupriya12
1

Answer:

compound interest---A-P

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Answered by shaider
4

Compound interest is calculated by multiplying the initial principal amount by one plus the annual interest rate raised to the number of compound periods minus one.

Example:

An amount of $1,500.00 is deposited in a bank paying an annual interest rate of 4.3%, compounded quarterly. What is the balance after 6 years?

Solution:

Using the compound interest formula, we have that

P = 1500, r = 4.3/100 = 0.043, n = 4, t = 6. Therefore,

Example Solution

So, the balance after 6 years is approximately $1,938.84.

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