Question

Q. Define compound interest !


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Answer 1

Answer:

Hey mate here is your answer...✍✍

Step-by-step explanation:

We know that , if P is principle and I is interest , then the amount A is therefore , given by A = P + I . We recall that if principle remains constant for the entire loan period , then the interest obtained is simple interest .

But if the interest is added with the principle after a specific period of time to form a new principle and the interest for the subsequent period is calculated on the new principle than the interest obtained is called Compound Interest....

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Answer 2

Answer:

COMPOUND INTEREST IS THE INTEREST CALCULATED ON THE INITIAL PRINCIPLE AND ALSO THE ACCUMULATED INTEREST OVER A PERIOD OF TIME

COMPOUND INTEREST IS THE INTEREST CALCULATED ON THE INITIAL PRINCIPLE AND ALSO THE ACCUMULATED INTEREST OVER A PERIOD OF TIMETOTAL AMOUNT ON COMPOUND INTEREST FOR A PRINCIPLE "P" INTEREST "R" AND FOR OVER "T" YEARS IS:

COMPOUND INTEREST IS THE INTEREST CALCULATED ON THE INITIAL PRINCIPLE AND ALSO THE ACCUMULATED INTEREST OVER A PERIOD OF TIMETOTAL AMOUNT ON COMPOUND INTEREST FOR A PRINCIPLE "P" INTEREST "R" AND FOR OVER "T" YEARS IS: AMOUNT=P[1+ R/100] ^{n}