Formula for Compound Interest
State the formula for compound interest.
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Compound interest is interest calculated on the initial principal and
also on the accumulated interest of previous periods of a deposit or
loan.
A =P(1+r/n)and the power is nt
P = principal amount (initial investment)
r = annual interest rate (as a decimal)
n = number of times the interest is compounded per year
t = number of years
A = amount after time t
A =P(1+r/n)and the power is nt
P = principal amount (initial investment)
r = annual interest rate (as a decimal)
n = number of times the interest is compounded per year
t = number of years
A = amount after time t
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