Math, asked by Møøñlîght, 30 days ago

fomula of compound interest and one example​

Answers

Answered by jalpapatels1978
8

Answer:

The compound interest is calculated, after calculating the total amount over a period of time, based on the rate of interest, and the initial principal. For an initial principal of P, rate of interest per annum of r, time period t in years, frequency of the number of times the interest is compounded annually n.

Cl  = p(1 +  \frac{r}{n}) {}^{nt}

In the above expression,

  • P is the principal amount
  • r is the rate of interest(decimal)
  • n is frequency or no. of times the interest is compounded annually
  • t is the overall tenure.

Step-by-step explanation:

Hope it helps you ♥

Good night sweet dreams sonali

Answered by madhavjha163
5

Step-by-step explanation:

Let's say your goal is to end up with $10,000 in 5 years, and you can get an 8% interest rate on your savings, compounded monthly. Your calculation would be: P = 10000 / (1 + 0.08/12)(12×5) = $6712.10

Hi Sonali di

ap kaishe ho?☺

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