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formula for compound interest bbc bitesize. Total amount of compound interest earned pounds651824 - pounds6000 pounds51824 Method 2. In compound interest the amount in interest is added to the original at the end of each year.
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Part 3 will show you a formula which you can use to calculate compound interest. This is a much quicker method. However considering many students make mistakes when they apply this formula without thinking I will take time to show you why the formula looks the way it does.
This will change 104 means 104100 which equals 104.
Pounds 40 times 105 pounds 42 Year 2. This video explains how to answer compound interest questions. Add to My Bitesize Add to. It is the concept of adding accumulated interest back to the principal initial amount.
