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what is the formula to calculate the amount for simple interest and compound interest. R Rate of Interest per year as a percent. Y The number of years the principal amount has been borrowed or deposited.
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Y The number of years the principal amount has been borrowed or deposited. It shows the snowball effect of continuous reinvesting of gains as opposed to cashing out which leads to exponential growth on the inital desposit. Rate of interest R 2Pfrac1t 1 Interest Compounded Quarterly.
So 4 would be 004 divided by n the number of times your interest is compounded in a given period.
Roi The annual rate of interest for the amount borrowed or deposited. Calculating Interest When the Time Is Given in Days. Compound interest also known as Interest Cal is the addition of interest to the initial deposit amount. I p x 1 rt - p In that formula p is the principal amount r is the interest rate and t is the number of accrual or compounding periods in a year.
