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how to solve a compound interest problem for t. A P 1 r n n t A 1 000 000 1 06 12 12 5 A 1 000 000 1 0005 12 5 A 1 000 000 1005 60 A 1 348 85015. Compound interest word problems.
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Related Pages Simple Interest Formula Simple and Compound Interest Compound Interest Word Problems. This formula applies when interest is earned on an annual basis and the interest is earned once a year. By the laws of logarithms this will allow us to bring the exponent to the front.
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To get the Compound Interest only we need to subtract the Principal from the Amount. Ln2tln105ln 2tln 105 Finally we can divide and then use our calculators to find t. A final amount P principal r interest rate or T how many years to compound Solving for A. A 2000 1 003 3 218545.
