Therefore CI 33075 3000 Rs. When interest is compounded annually total amount A after t years is given by. Examples of finding the future value with the compound interest formula.
Scroll down the page for examples and solutions on how to use the Simple Interest Formula.
3000 at 5 for 2 years compounded annually. If the difference between Simple Interest and Compound Interest on a certain sum of money in 2 years at 20 pa. Compound interest 16878 6000 10878. I think its worth taking a moment to examine the benefit of compound interest using our example.