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what is the compound interest formula stand for. And then that interest earns interest. Compound interest is the addition of interest to the principal sum of a loan or deposit or in other words interest on interest.
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Find the difference between the simple interest and compound interest on 16000 for 32 years at 5 per annum compound interest being reckoned half yearly. R stands for the annual rate of interest which should be a decimal. T 4 years.
It is the result of reinvesting interest rather than paying it out so that interest in the next period is then earned on the principal sum plus previously accumulated interest.
FV is the future value of the investment including interest. The formula for compound interest is. What is the compound interest formula. 18000 at 9 compounded semiannually for 6 years.
