How is compound interest calculated?
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How is compound interest calculated?
by Beyonder Tue Apr 26, 2016 7:37 pm
A=P(1+r/n)nt
A = Amount
P = Principal (initial amt. you borrow or deposit)
r = Annual rate of interest
n = Number of times interest is compounded
t = time in years
A = Amount
P = Principal (initial amt. you borrow or deposit)
r = Annual rate of interest
n = Number of times interest is compounded
t = time in years
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