state true or false
In case of compound interest, the amount of an year becomes the principal of next year
Answers
Answer:
True
Step-by-step explanation:
This sentence is true .
Given : In case of compound interest, the amount of an year becomes the principal of next year
To Find : True or False
Solution:
In case of compound interest, the amount of an year becomes the principal of next year
This is TRUE
if compounding period is 1 Year
In compound interest Amount after every compounded period becomes principal from the the next period.
Correct Answer is True if compounding period is 1 Year
Additional Info :
SI = Simple interest = P * R * T /100
P = pricnipal
R = rate of interest
T = Time
A = P + SI
A = P (1 + R/100)^T in case of CI
CI = Compound interest
CI = A - P
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