The interest got in an year and the amount deposited in scheme in which interest is compounded annually
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The principle of compounding growth is used extensively in the financial world to transform small savings into a big corpus over time. It’s also the underlying idea behind MBA topics such as time value of money and discounted cash flow (DCF) valuation.
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Answer:
Constant of proportionality=R
Step-by-step explanation:
If the amount deposited is P and the rate of interest is R.
Annual interest = I = PNR,
I = P × R (N = 1)
The amount and interest are propor-tional.
Constant of proportionality is rate of interest, R
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