Question

the formula to find compound interest annually is ​

Answer 1

Answer:

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. Interest can be compounded on any given frequency schedule, from continuous to daily to annually.

Answer 2

Step-by-step explanation:

compound Interest= P (1 + r/n)^(nt)

where,

P is the initial principal balance, r is the interest rate, n is the number of times interest is compounded per time period and t is the number of time period