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how to calculate compound interest in numbers. It shows the snowball effect of continuous reinvesting of gains as opposed to cashing out which leads to exponential growth on the inital desposit. This rule of thumb tells you what it takes to double your money looking at the rate you earn and the length of time youll earn that rate.
Formula For How To Calculate Compound Interest Compound Interest Interesting Things School Help from www.pinterest.com
The A in the formula is the amount youll end up with. 1152800 12n 144 12n 144 122 Thus it takes two years for the compound interest to amount to. You need the beginning value interest rate and number of periods in years.
R is the interest rate per year or per annum n is the loan or investment duration in years.
The compound interest formula is as follows. Multiply the number of years by the interest rate. To calculate compound interest use the formula below. 1152 800102n STEP 3 We can then proceed to solve the equation.
