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how to solve compound and simple interest. A P 1 rn nt. P 1 R100 n When money is compounded annually P 1 R 2100 2n When money is compounded half-yearly P 1 R 12100 12n When money is compounded monthly Also A CI P.
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Basically the two major criteria to setting interest rates are the riskiness of the investment and what rate is commonly. If you choose to lend someone money. CI P 1 R100 T -1 Step 5.
Once you have those you can go through the process of calculating compound interest.
Compound Interest Divide the annual interest rate by 100 to convert it to a decimal. The formula for compound interest including principal sum is. Python Program with Conditional Statements. For monthly compounding the periodic interest rate is simply the annual rate divided by 12 because there are 12 months or periods during the year.
