Which of the following is not needed in solving for compound interest
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"Compound interest is when interest is earned on the initial amount invested as well as on any interest. At the end of the day, interest is earned over interest and in this way ""compounds"". The formula for compound interest is
C = P [(1+R)N-1]
Where,
P = Principle (original amount)
C= Compound Interest
R = Rate of interest per year
N = Number of years
"
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