What is the formula of simple interest and compound interest ( not account money)

Honcheng asked Dec 5, 2023

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Honcheng asked Dec 5, 2023

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28 votes

Simple interest = Principal x rate x time

I = P x r x t

Compound interest = Principal x (1 + rate / number of times interest is compounded) ^ n x time

Lets draw a picture that will be better on this case:

Jvnbt answered Dec 10, 2023

by Jvnbt

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