Math, asked by ajay7640, 5 months ago

how to solve compound interest without formula

plz tell with example

Answers

Answered by shivangiroy27

Step-by-step explanation:

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.

If interest is compounded yearly, then n = 1; if semi-annually, then n = 2; quarterly, then n = 4; monthly, then n = 12; weekly, then n = 52; daily, then n = 365; and so forth, regardless of the number of years involved

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