P(r/100)^2
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.
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.
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
compound interest increases interest more than simple interest
It depends on which compound interest formula you mean. Refer to the Wikipedia Article on "Compound Interest" for the correct terminology.
There is no carrot in the compound interest formula!
The correct compound name for the formula P2F10 is diphosphorus decafluoride.
The correct compound formula for Chromium(III) oxide is Cr2O3.
the correct formula unit for the ionic compound barium oxide is BaO.
The correct formula for the compound formed when lithium and oxygen combine is Li2O. This compound is known as lithium oxide.
The correct formula for magnesium and oxygen is MgO. The compound name for MgO is magnesium oxide.
The correct name of the compound N2O4 is dinitrogen tetroxide.
The correct name for a compound with the formula AuCl3 is gold(III) chloride.
The correct name for the compound PCI5 is phosphorus pentachloride.
NH4NO2Ammonium nitrite.
KMnO4