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What is the formula for difference between simple interest and compound interest?
P(r/100)^2
How do you figure out your total amount of money after interest?
It depends on whether it is simple or compound interest. The formula for simple interest is A = P(1+rt), where A = amount of money after t years, P = Principal, or the amount of money you started with, and r = the annual interest rate, expressed as a decimal (i.e. 7% = 0.07). For compound interest, the formula is A = P(1+r)t.
What are the major differences between compound interest loan and simple interest loan?
With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.With compound interest, the interest due for any period attracts interest for all subsequent periods. As a result, compound interest, for the same rate, is greater.
When interest is added to the principal and interest is again calculated on the new balance the process is known as compound interest?
Yes, that is correct. Compound interest occurs when interest earned on an investment or loan is added to the principal amount, so that subsequent interest calculations are based on the new total. This results in interest being earned on both the original principal and the accumulated interest from previous periods. Over time, compound interest can significantly increase the total amount accrued compared to simple interest, which is calculated only on the principal.
How much would you repay the bank if you borrowed 7900 at 4.3 percent annual interest for 6 years?
9,938.20 * * * * * That would be correct only if banks charged simple interest as opposed to compound interest. Anyone believe that likely? The correct answer, when interest is compounded, is 7900*(1.043)6 = 10170.28
How do you solve compound interest formula for n?
It depends on which compound interest formula you mean. Refer to the Wikipedia Article on "Compound Interest" for the correct terminology.
WHAT does the carrot in the formula for compound interest means?
There is no carrot in the compound interest formula!
What is the correct compound name for the formula P2F10?
The formula P2F10 is Diphosphorus decaoxide.
What is the correct compound Cr203?
The correct compound formula for Chromium(III) oxide is Cr2O3.
What is the correct formula unit for the ionic compound barium oxide?
the correct formula unit for the ionic compound barium oxide is BaO.
What is the correct formula and compound name for Magnesium and Oxygen?
Formula ; MgO Compound name ; Magnesium oxide.
What is correct name of the compound whose formula is N2O4?
The correct name of the compound N2O4 is dinitrogen tetroxide.
What is the correct name for a compound with the formula AuCl3?
Gold(III) chloride, traditionally called auric chloride, is a chemical compound
How can I calculate compound interest using the compound interest formula in Google Sheets?
To calculate compound interest in Google Sheets, use the formula: A P(1 r/n)(nt), where A is the future value, P is the principal amount, r is the annual interest rate, n is the number of times interest is compounded per year, and t is the number of years. Enter these values into the formula in the appropriate cells in Google Sheets to calculate the compound interest.
What is the correct name for this compound PCI5?
The correct name for the compound PCI5 is phosphorus pentachloride.
What is the correct formula for the compound potassium permanganate?
KMnO4
What is the correct name for the compound with the formula?
NH4NO2Ammonium nitrite.
