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how to use compound interest formula. An interest rate formula helps one to understand loan and investment and take the decision. Compounded annual growth rate ie CAGR is used mostly for financial applications where single growth for a period needs to be calculated.
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These days financial bodies like banks use the Compound interest formula to calculate interest. Includes compound interest formulas to find principal interest rates or final investment value including continuous compounding A Pert. To calculate compound interest monthly simply set the compounding frequency setting on the calculator above to monthly Alternatively you can use the formula above and set n equal to 1 and t equal to 12 to find out how much money youll have if interest is compounded monthly for a year.
M number of the times compounded annually 1.
The function takes two arguments ie. An interest rate formula helps one to understand loan and investment and take the decision. For daily compounding most organizations use 360 or 365. For the formula for compound interest just algebraically rearrange the formula for CAGR.
