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how to do compound interest equation. The total you owe your friend at the end of the period is the principal plus the interest or 1150. Your intermediate accounting textbook may substitute n for time the n stands for number of periods time.
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Compound Interest Formulas and Calculations. And by rearranging that formula see Compound Interest Formula Derivation we can find any value when we know the other three. Generally when someone deposits money in the bank the bank pays interest to the investor in the form of quarterly interest.
By multiplying the original principal by the second portion of the formula the interest earned is 12683.
N Number of Periods. How to use the compound interest formula. Step 1 We will initiate writing the FVSCHEDULE function into cell B6. In the formula A represents the final amount in the account that starts with an initial principal P using interest rate r for t years.
