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how to calculate simple interest compounded daily. Your intermediate accounting textbook may substitute n for time the n stands for number of periods time. Below is the compound interest formula on how to calculate compound interest.
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Compound interest is the total amount of interest earned over a period of time taking into account both the interest on the money you invest this is called simple interest and the interest earned or charged on the interest youve previously earned. R is the the annual interest rate in decimal. You started with an investment of.
Compound interest P 1rn nt - P P is principal or the original deposit in bank account.
Collect the necessary information. How to calculate compound interest A the future value of the investment P the principal investment amount r the interest rate decimal n the number of times that interest is compounded per period t the number of periods the money is invested for. P the principal investment amount. P is the the principal investment or loan amount.
