Using the compound interest formula calculate principal plus interest or principal or rate or time. PA Principal amount. Turn on your TI-83 Plus calculator and access the TVM Time-Value-of-Money Solver application by first pressing the APPS button then 1 for Finance and 1 again for TVM Solver Your calculator will open a simple application screen of eight lines that you can use to determine any variable of compound interest.
The formula for calculating compound interest is A P 1 rn nt For this formula P is the principal amount r is the rate of interest per annum n denotes the number of times in a year the interest gets compounded and t denotes the number of years.
A P 1rt. To calculate compound interest use the formula below. In order to understand this better let us take the help of an example. 2 Gather variables the compound interest formula.