what is the formula of Compound intrest ,?
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The formula of compound interest is ((P*(1+i)^n) - P), where P is the principal, i is the annual interest rate, and n is the number of periods.
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Step-by-step explanation:
CI. is the simple interest taken per year
that is ci for 1st year= principal *rate/100(time is not taken as it is 1 year)
likewise we calculate the interest per year and then subtract the initial principal from final amount to get C.I.
C.I.=A-P
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