Question

How to find the term in compound interest?

Answer 1

Calculate Accrued Amount (Principal + Interest) A = P(1 + r/n)ntCalculate Principal Amount, solve for P. P = A / (1 + r/n)ntCalculate rate of interest in decimal, solve for r. r = n[(A/P)1/nt - 1]Calculate rate of interest in percent. R = r * 100.