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how to find compound interest. To find the compound interest value subtract 1000 from 127628. You get interest on the interest from previous years.
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Every year the amount of interest were getting if we dont withdraw anything goes up. Thats why we say it compounds. Compound interest accrues over the period a loan or a deposit is outstanding.
The compound interest formula solves for the future value of the investment.
Every year the amount of interest were getting if we dont withdraw anything goes up. Compound Interest P 1 rn nt P. Lets look at the quantities in the problem statement. A the future value of the investmentloan including interest P the principal investment amount the initial deposit or loan amount r the annual interest rate decimal n the number of times that interest is compounded per unit t t the time the money is invested or borrowed for.
