What is the formula for finding the final balance of an account that earns interest compounded annually? State what each variable in the formula represents.

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Nov 7, 2018 98.0k views

0 votes

What is the formula for finding the final balance of an account that earns interest compounded annually? State what each variable in the formula represents.

Mathematics
middle-school

Geowar asked

by Geowar

6.3k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

5 votes

C=P[(1+r)^n-1]
C = COMPOUND INTEREST
P = PRINCIPAL
r = rate per period
n = number of periods

Alex Dupuy answered Nov 11, 2018

by Alex Dupuy

6.3k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

7.6m questions

10.2m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Other Questions