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how to solve compound interest equations. Compound Interest is calculated on the initial payment and also on the interest of previous periods. Since the time period in this problem is one year our simple interest equation becomes.
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5000 dollars is deposited in an account P 5000. Will there be 6000 dollars in the account A 6000. This formula applies when interest is earned on an annual basis and the interest is earned once a year.
Since the time period in this problem is one year our simple interest equation becomes.
A 9 1 0012 3 3 4 A 9 1004 3 4 A 944. After 4 years your original 9 compounded every 3 months will become a final amount of 944. Will there be 6000 dollars in the account A 6000. Calculate rate of interest in decimal solve for r r n AP 1nt - 1 Calculate rate of interest in percent R r 100.
