A P 1rnnt P. The P in the formula above stands for your principal thats the amount that you start with. Raise all of that to the power of n times t where t is the number of time periods elapsed.
P the principal investment amount.
00083 x 100 083. Putting these variables into the compound interest formula would show. 00083 x 2000 1660 per month. Here P denotes the principal r represents the annual interest rate n is the number of times the interest is compounded per year and t is the time in years.