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Interest compound do not do any rounding

Interest compound do not do any rounding-example-1

1 Answer

2 votes

Answer:

I guess if the interest is compounded, if you deposit 6000$..in one year the deposit will be:

6000*(1+interest)^1 year, so: 6000(1+0,11)=6660.

In two years is 6000*(1+0,11)^2=7392.6

If you need the formula: C*(1+i)^t