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how to calculate compound interest in numbers. Compound interest is when a bank pays interest on both the principal the original amount of moneyand the interest an account has already earned. Create an Excel document to compute compound interest.
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Initial InvestmentInitial InvestmentAmount of money that you have available to invest initially. To calculate compound interest use the formula below. T The number of times the interest compounds yearly.
Compound interest also known as Interest Cal is the addition of interest to the initial deposit amount.
STEP 2 Thus let us substitute the values we have into the formula. T The number of times the interest compounds yearly. PA Principal amount. So 4 would be 004 divided by n the number of times your.
