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what is the formula of simple and compound interest. Keep this mantra in mind. Compound Interest P 1rn 1 In the formula above P is the total principal r is the interest rate and n is the length of the loan expressed in years.
Simple Compound Interest Gcse Higher Us 9th 10th Grades Math Lessons Gcse Math 10th Grade from www.pinterest.com
Its important to have at least a basic understanding of how a company or bank determines the interest rate you earn on your money on deposit. The interest of interest effect means an investment with compound interest will always pay more than an investment with simple interest when all the other variables principal interest rate and length of time are the same. Formula for Compound Interest.
The formula for Simple interest What is simple interest.
Whats the difference between simple and compound interest anyway. When interest is compounded Half yearly Then Formula for Amount P mathbf1 fracfracr21002n. R Rate of interest. Simple Interest Principle Rate Time PTR100.
