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compound interest rate formulas. Initial investment 1 annual interest rate2 years 2 Well still be using the same factors for this example. This formula returns the result 1220996594.
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Compound interest can be defined as the type of interest which is calculated on the initial principal that would include all of the interest which has been accumulated of the prior periods of a loan or a deposit. There is a certain set of the procedure by which we can calculate the Monthly compounded Interest. Compound interest is the addition of interest to the principal sum of a loan or deposit or we can say interest on interest.
To calculate compound interest use the formula below.
To calculate compound interest use the formula below. Compound Interest Formula P principal amount the initial amount you borrow or deposit r annual rate of interest as a decimal t number of years the amount is deposited or borrowed for. After using this formula the simple interest earned would be 120. Compound interest is the addition of interest to the principal sum of a loan or deposit or we can say interest on interest.
