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how to solve compound interest step by step. Addition Examples If you would like to see more examples of solving compound interest pr oblems just click on the link below. I would choose option 1.
Practice Applying Compound Interest Formulas With These Word Problems Word Problems Word Problem Worksheets Simple Word Problems from www.pinterest.com
The bank gives you a 6 interest rate and compounds the interest each month. For example problems involving retirement planning will often give pre-retirement and post-retirement interest rates. Once you have those you can go through the process of calculating compound interest.
2776053016 12t Use a calculator to find log 2 divided by log 10025.
T number of years for which investment is done 3 years. R rate of return 10 compounded annually. However some problems will have different interest rates for different time frames. At 3 annual interest it will take approximately 231 years to double your money.
