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The formula for compound interest is
FV = PV * (1 + i) ^ t
Where
FV = Future Value
PV = Present Value
t = time
i = interest rate
As an example, suppose you have $100 now, the interest rate is 5%, and the time is 4 years. The future value is then
FV = $100 * (1 + 0.05) ^ 4 = $100 * (1.05)^4 = $100 * 1.21550625 =~ $121.55
After four years, you will have $121.55. Note the answer has been rounded to the nearest cent.
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Find compound interest on Rs800 for 3 years at an interest 8 percent compounded semiannually for three years Find the compound inte?
800 x (1.04)6 ie Rs1012.26
How to find thirteen digit canara bank account no from five digit?
ask in the bank
What is the equation to find compound interest?
If the rate of annual interest is r% the period is n years and the amount invested is y Then the compound interest is y*(1+r/100)^n - y
The difference between the simple and compound interest on a certain sum is Rs250 for two years at 5 percent Pa per annum Find the sum?
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
How can you find out your 13 digit canara bank account number?
canara bank does not have website facility to find the 13 digit account number. Best thing is to contact the branch itself or if other branches of canara bank who will mostly oblige
