how to find compound interest
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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.
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Ques→ How to find compound interest?
Ans→ The formula for compound interest is P (1 + T/N)^(NT), where P is the initial principal balance, R is the interest rate, N is the number of times interest is compounded per time period and T is the number of time periods.
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You know what, I was revising compound interest chapter only in Maths for final exams...and I found your question over here!!
wht a co-incidence :-P
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