Question

compound interest formula?


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Answer 1

Answer: The formula for calculating compound interest is:

Compound Interest = Total amount of Principal and Interest in future (or Future Value) less Principal amount at present (or Present Value)

                             = [P (1 + i)n] – P

                             = P [(1 + i)n – 1]

(Where P = Principal, i = nominal annual interest rate in percentage terms, and n = number of compounding periods.)

Answer 2

Answer:

in simpler words, compound interest is nothing but ,

P(1+R/100)

Step-by-step explanation:

principal(1+rate/100)