Question

What is compound interest and what is the formula of to find the compound interest? ​

Answer 1

Step-by-step explanation:

compound interest is the interest calculated on the initial principles which also includes all of the accumulated interests of previous periods of a deposit or loan

formula -- amount=principle(1+rate of interest÷number of times interest is compounded per unit 't')times

Answer 2

Answer:

A=P(1+r/n) ^nt

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

FROM THE WEB

The compound interest formula is ((P*(1+i)^n) - P), where P is the principal, i is the annual interest rate, and n is the number of periods.