Explain and prove the Simple Interest and Compound Interest
formula..
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Step-by-step explanation:
From the data it is clear that the interest rate for the first year in compound interest is the same as that in case of simple interest, ie. \frac{PR}{100}.
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Compound Interest Formula.
Time (in years) Amount Interest
3 P\left (1+\frac{R}{100} \right )^{3} P(1 + R/100)2 (R/100)
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Answer:
Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods. Where r is in decimal form; r=R/100; r and t are in the same units of time
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