The formula for the daily compound interest is B=p(1+r over n)NT as an exponent for the nt
B= ending balance
P= principal amound
r= interest rate
n= number of compounds per year
t= time( in years)
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There is no carrot in the compound interest formula!
It depends on which compound interest formula you mean. Refer to the Wikipedia Article on "Compound Interest" for the correct terminology.
Simple Interest = p * i * n p is principle and i is interest rate per period and n is the number of periods. A = P(1 + r)n is for compound interest.
There is simple interest and there is compound interest but this question is the first that I have heard of a simple compound interest.
Compound interest