what is compound interest ??
Answers
Answered by
10
Holå mate❤
ANSWER✍
Realy interest is of two types (i)simple interest (ii) compound interest.
★Simple interest:when interest is calculated on principle or capital only,that interest is said to be Simpleinterest.
★compound interest:After a definite period of time,the interest accrued is added to the principal to get the new principal. For the definite period of time,if the interest is calculated on the new principal,then the interest is called Compound interest.
✌hope this helps you✌
Answered by
6
Hello!
What is compound interest?
The interest that is calculated on the initial principal including all of the accumulated interest of previous periods of a deposit is termed as compound interest.
How to calculate?
It can be calculated by using the formula :
A = P (1 + r/n)^(nt)
Thanks!❤
Similar questions