Find the difference between compound interest and simple interest on rupees 12000 and in 3 upon 2 years at 10% compounded half yearly
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A = P(1 + \frac{r}{n})^{nt}
A = final amount
P = initial principal balance
r = interest rate
n = number of times interest applied per time period
t = number of time periods elapsed
FROM THE WEB
The compound interest formula is ((P*(1+i)^n) - P), where P is the principal, i is the annual interest rate, and n is the number of periods
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