The process given above of finding compound interest is very long. is there some short method also to find compound interest?
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Answered by
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one simple formula for it is -
p(1 + r/100)^t-p
p=principle
r=rate
t=time
p(1 + r/100)^t-p
p=principle
r=rate
t=time
Answered by
0
This formula can help you-
A= P(1+r/n)^nt
Where- a= amount
p=principal
r=rate
t=time
n=no. of times the interest is compounded per year
Hope it helps..!!
A= P(1+r/n)^nt
Where- a= amount
p=principal
r=rate
t=time
n=no. of times the interest is compounded per year
Hope it helps..!!
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