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formula for calculating compound interest in mathematics. I would choose option 1. Suppose you give 100 to a bank which pays you 10 compound interest at the end of every year.
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N number of. Compound Interest is calculated on the initial payment and also on the interest of previous periods. There are other types of questions that can be answered using the compound interest formula.
This formula applies when interest is earned on an annual basis and the interest is earned once a year.
Suppose you give 100 to a bank which pays you 10 compound interest at the end of every year. They are simple interest and compound interest. Both of these have lot of difference and both of these formulas are very important in comparing quantities chapter. Compound Interest is calculated on the initial payment and also on the interest of previous periods.
