formula of rate of interest in compound interest
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The formula for annual compound interest, including principal sum, is:
A = P (1 + r/n) (nt)
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hey mate here is your answer
The simple interest formula allows us to calculate I, which is the interest earned or charged on a loan. According to this formula, the amount of interest is given by I = Prt, where P is the principal, r is the annual interest rate in decimal form, and t is the loan period expressed in years
Hope this will help you
The simple interest formula allows us to calculate I, which is the interest earned or charged on a loan. According to this formula, the amount of interest is given by I = Prt, where P is the principal, r is the annual interest rate in decimal form, and t is the loan period expressed in years
Hope this will help you
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