PV stands for present value. A 1000 deposit is made at a bank that pays 12 compounded annually. Divide both sides by P.
Logarithms and the Compound Interest Formula.
Compound interest is when a bank pays interest on both the principal the original amount of moneyand the interest an account has already earned. Divide both sides by P. AP 1rnnt This question is from textbook Fund of Trig and Alg. For daily compounding most organizations use 360 or 365.