Question

Formula for Amount if interest calculated with compound interest​

Answer 1

Answer:

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]

Answer 2

Answer:

$\huge \underline \mathfrak \red{Answer}$

Calculating Compound Interest

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. The total initial amount of the loan is then subtracted from the resulting value.