About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy Safety How YouTube works Test new features Press Copyright Contact us Creators. The money is compounded monthly 12 times a year and youre planning to. FV R1 r n - 1 r.
A P1 r n nt where P is the principal r is the annual interest rate expressed as a decimal n is the number of times per year the interest is compounded A is the balance after t years.
Compound interest or interest on interest is calculated with the compound interest formula. A Pert Enumeration. What does P stand for. AP1rnnt Use the compound interest formula AThe amount of money in the savings account PThe principle rThe interest rate converted to a decimal tThe time that the money is in the account nThe number of times the money is compounded per year.