what is the formula of compound interest?
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The formula for compound interest is as follows
Amount is given by
![:A = P [1 + R/100)] ^{t} :A = P [1 + R/100)] ^{t}](https://tex.z-dn.net/?f=%3AA+%3D+P+%5B1+%2B+R%2F100%29%5D+%5E%7Bt%7D+)
Where
A=Amount
P=Principle
R=RAte
t=time
We know
C.I[compund interest ] =Amount - Principle
ON doing that you will get
P[ [1 + R/100)] ^{t} - 1]
THIS FORMULAE IS FOR INTEREST calculated ANNUALLY
HOPE IT HELPS!!!!1
Amount is given by
Where
A=Amount
P=Principle
R=RAte
t=time
We know
C.I[compund interest ] =Amount - Principle
ON doing that you will get
P[ [1 + R/100)] ^{t} - 1]
THIS FORMULAE IS FOR INTEREST calculated ANNUALLY
HOPE IT HELPS!!!!1
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