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what is the formula for computing compound interest. Compound interest is taken from the initial or principal amount on a loan or a deposit plus. Using the prior example the effective rate would be 12683.
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The formula for compound interest is Compound Interest CI Principal 1Rate100n - Principal where P is equal to Principal R is equal to Rate of Interest T is. Beginning Value 1 interest rate NCPPY years NCPPY Future Value where. In simple in it also written as Simple Interest rate PRT100.
The formula for compound interest is P 1 rnnt where P is the initial principal balance r is the interest rate n is the number of times interest is compounded.
You can download. The formula used in the compound interest calculator is A P 1rnnt A the future value of the investment P the principal investment amount r the interest rate decimal. As you move from year to year the principal amount continues to grow. Beginning Value 1 interest rate NCPPY years NCPPY Future Value where.
