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

User SnellyBigoda
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1 Answer

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Simple interest = Principal x rate x time

or

I = P x r x t

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

or

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

What is the formula of simple interest and compound interest ( not account money)-example-1
User Marin Petkov
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