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If the interest is 10 per annum for 3 three years how do you do the math for the total?
Wiki User
∙ 14y ago
Assuming simple interest, the formula is Interest = Principal x Time x Rate/100, in this case the interest would be 30% of the original investment.
If the interest is compounded yearly the the formula is Principal x (1 + Rate/100)^Time so that the new total would be (1 + 0.1)^3 ie 1.331 times the original investment, a total of 33.1% interest.
Wiki User
∙ 14y ago
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