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how to solve compound interest for time. A 9 1 0012 3 3 4 A 9 1004 3 4 A 944. The trick to using a spreadsheet for compound interest is using compounding periods instead of simply thinking in years.
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5000 dollars is deposited in an account P 5000. Where CI Compounded interest. Ifwearesolvingforthetimetthenwewillneedtouselogarithms becausethecompoundinterestformulaisanexponentialequationandsolvingexponentialequations with differentbasesrequirestheuseoflogarithms.
Compound Interest Formulas and Calculations.
A P 1rnnt. 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. Length of time in years that you plan to save. The value after 2 years will be 360639.
