Question

How to find compound intrest

Answer 1

A = Accrued amount (principal + interest)

P = Principal amount.

r = Annual nominal interest rate as a decimal.

R = Annual nominal interest rate as a percent.

r = R/100.

n = number of compounding periods per unit of time.

t = time in decimal years; e.g., 6 months is calculated as 0.5 years

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