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how to solve for r in compound interest formula. 50000 is borrowed and the rate of interest is 10 per annum. Identify the principal of the investment.
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The bank gives you a 6 interest rate and compounds the interest each month. If the compounding frequency per annum is 1 ie. 5000 dollars is deposited in an account P 5000.
If the interest is compounded annually the compound interest formula is given as.
We will use the compound interest formula to solve these compound interest word problems. Will there be 6000 dollars in the account A 6000 Putting these values into the formula above gives us. Identify the principal of the investment. A the future value of the investmentloan including interest.
