How do we calculate compound interest
Answers
Answered by
0
Answer:
Compound interest is the interest calculated on the principal and the interest accumulated over the previous period. If the interest is compounded annually, then the formula to calculate the compound interest is:
A = P(1 + R/100)t
Here,
P = Principal
R = Rate of interest
t = Number of years
A = Amount after t years
Compound Interest (CI) = A – P
Step-by-step explanation:
Similar questions