FV PV 1rn. Even if you cant get a 4 compound interest rate. Pounds 42 5.
FV PV 1rn.
Youre asked to calculate the amount after 3 years with 4500 and a 4 compound interest rate. Introduction to Interest Compound Interest Compound Interest Derivation Compound Interest. It includes a resource from maths box and a quizizz that Ive created with the questions minimally increasingly difficult. The formula for compound interest is P 1 rn nt where P is the initial principal balance r is the interest rate n is the number of times interest is compounded per time period and t is the number of time periods.