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Earn +20 ptsQ: What is the formula used to calculate 8.5 percent interest on a credit card with a balance of five hundred dollars?
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What is the Formula for daily compound interest?
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)
WHAT does the carrot in the formula for compound interest means?
There is no carrot in the compound interest formula!
How do you calculate a ratio from a percent?
Formula to calculate the ratio
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 is future value of 10000 with 5 percent interest for 15 years?
To calculate the interest gained on something, a simple formula is used. Initial value x (percentage increase as a decimal)^years So: 10000 x 1.05^15 = 20789.28 (2d.p).
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