ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Detailed explanation-1: -Compound interest, can be calculated using the formula FV = P*(1+R/N)^(N*T), where FV is the future value of the loan or investment, P is the initial principal amount, R is the annual interest rate, N represents the number of times interest is compounded per year, and T represents time in years.
Detailed explanation-2: -How do we calculate compound interest? We can calculate CI by using the formula for compound interest is A = P(1 + r/n)^nt.
Detailed explanation-3: -Monthly Compound Interest Formula. Interest compounded monthly is calculated 12 times in a year. Compounded Quarterly Formula. Interest compounded quarterly is calculated four times in a year. Daily Compound Interest Formula. Annual Compound Interest Formula. 15-Jul-2021