Question

How to calculate compound interest without using formula

Answer 1

Answer:

Formulas where n = 1 (compounded once per period or unit t)

Calculate Accrued Amount (Principal + Interest) A = P(1 + r)t

Calculate Principal Amount, solve for P. P = A / (1 + r)t

Calculate rate of interest in decimal, solve for r. r = (A/P)1/t - 1.

Calculate rate of interest in percent. ...

Calculate time, solve for t.