RELATED COMPOUND INTEREST FORMULA plz help me
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Answer:
Daily Compound Interest = [Start Amount * (1 + (Interest Rate / 365)) ^ (n * 365)] – Start Amount. Daily Compound Interest = [Start Amount * (1 + Interest Rate) ^ n] – Start Amount.
Step-by-step explanation:
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A=p(1+r/n)nt
A:final amount
p:initinal principal balance
r:interest rate
n:number of time interest applied per time period
t: number of time periods elapseds
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