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compound interest formula for maths. Finds the Future Value where. MathsTo see the connection suppose you borrow pounds 100 at an annual interest rate of 3.
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The bank gives you a 6 interest rate and compounds the interest each month. Solution Earns 3 compounded monthly. The rate is r 003 and the number of times compounded each year is m 12 Initial investment of 5000.
Finds the Future Value where.
Suppose you give 100 to a bank which pays you 10 compound interest at the end of every year. Solution Earns 3 compounded monthly. I would choose option 1. After one year you will have 100 10 110 and after two years you will have 110 10 121.
