Question

write the formula for findings the the amount in compound interest and express the each term in it​

Answer 1

The formula for compound interest is given by

$A=P(1+\frac{r}{n})^{nt}$

Step-by-step explanation:

The formula for compound interest is given by

$A=P(1+\frac{r}{n})^{nt}$

Here,

A = Final amount

P = Initial amount

t = time

r = interest rate in decimal

n = Number of times the amount is compounding per year.

• For compounding yearly, n = 1

• For compounding half yearly, n =2

• For compounding monthly, n = 12

• For compounding quarterly, n =4

• For compounding daily, n = 365

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Answer 2

Formula for finding the amount in compound interest  is $A= P(1 + \frac{R}{100} )^t$ if compounded yearly otherwise $A= P(1 + \frac{R}{100n} )^{nt}$ where n  is the number of times interest is compounded yearly

Interest are of two types:

• Simple Interest
• Compound interest

In case of Compound interest , interest is Added in principal after each compounding period.

For Period less than compounding period Simple interest and compound interest are same.

P = Principal

R = rate of interest in % per annum

t = number of year

A = Amount

If Compounded yearly

$A= P(1 + \frac{R}{100} )^t$

If n  is the number of times interest is compounded yearly then formula is

$A= P(1 + \frac{R}{100n} )^{nt}$

Formula for finding the amount in compound interest  is $A= P(1 + \frac{R}{100} )^t$  if compounded yearly otherwise $A= P(1 + \frac{R}{100n} )^{nt}$  where n  is the number of times interest is compounded yearly

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