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how to calculate compound interest rate on a loan. Your intermediate accounting textbook may substitute n for time the n stands for number of periods time. Times per year that interest will be compounded.
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Add 1 to this to account for the effects of compounding 3. Annual Interest Rate How many years. A the future value of the investment.
Range of interest rates above and below the rate set above that you desire to see results for.
A 6 interest rate on a 20000 loan is obviously going to cost less over five years than a 10 interest rate. With compound interest the interest per period is based on the principal balance plus any outstanding. The formula for compound interest including principal sum is. Determine how much your money can grow using the power of compound interest.
