write the formula when interest is compounded but time is a fraction
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Let Principal = P, Rate = R% per annum, Time = n years. When interest is compounded Annually but time is in fraction, say 3 years.
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Exercise :: Compound Interest - Important Formulas.
Present Worth = x
1 + R n 100
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When interest is compounded Annually but time is in fraction, say 3 years. When Rates are different for different years, say R1%, R2%, R3% for 1st, 2nd and 3rd year respectively.
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Exercise :: Compound Interest - Important Formulas.
Step-by-step explanation:
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