R the annual interest rate expressed in decimal form decimal 100. 5 Round to the nearest cent as needed The amount of interest earned is. N Number of compounding periods per year.
R the annual interest rate expressed in decimal form decimal 100.
Suppose an account with an original balance of 1000 is earning 12 per year and is compounded monthly. N Number of compounding periods per year. A P1 rn nt. A Accrued Amount principal interest P Principal Amount.
