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how to do the compound interest formula. The bank gives you a 6 interest rate and compounds the interest each month. A is the total amount of money including interest after n years.
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So 4 would be 004 divided by n the number of times your. Compound Interest Equation A Accrued Amount principal interest P Principal Amount I Interest Amount R Annual Nominal Interest Rate in percent r Annual Nominal Interest Rate as a decimal r R100 t Time Involved in years 05 years is calculated as 6 months etc. Using the prior example this formula would return an ending balance of 112683.
You need the beginning value interest rate and number of periods in years.
You need the beginning value interest rate and number of periods in years. You need the beginning value interest rate and number of periods in years. The compound interest formula is given below. A the future value of the investmentloan including interest P the principal investment amount the initial deposit or loan amount r the annual interest rate decimal n the number of times that interest is compounded per unit t t the time the money is invested or borrowed for.
