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how to compound monthly interest. FV function stands for Future Value returns the future value of an investment based on periodic constant payments and a constant interest rate. A the future value of the investmentloan including interest.
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Again although daily compounding is better the. T the time the. The argument in the FV function is.
The argument in the FV function is.
A Final amount. If interest is compounded monthly and you made a deposit on the 10th of July the bank calculates interest for nine days at the old balance and twenty-two days on the new balance. Compound interest is interest calculated on the original principal plus interest calculated on the accumulated interest from previous accounting periods. N Number of compounding periods per year.
