Question

what is meant by compound interest ​

Answer 1

Answer:

It is the interest which uses initial principle and the uses the compound interest and principal's sum as base and and then this goes on on ...

It may be defined as a interest which increases exponentially in time t at rate r and principle p such that

$compound \: interest = p(1 + \frac{r}{100} ) {}^{t}$

Answer 2

Answer:

Step-by-step explanation: