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how to solve simple and compound interest easily. Basically The formula for Amount in Compoun interest Amount. From second month the interest starts changing.
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Simple interest on a certain sum is 1625 of the sum. Compound interest is calculated based on the principal interest rate and the time period involvedIt is the addition of interest to the sum of Amount or Principal Amount ie. Algorithm to calculate simple interest and compound interest.
You can learn more about financial analysis from the following articles Daily Compound Interest.
The shortest and easiest method to compute compound amount is to use the future value of 1 table. Calculate the interest on borrowing 40 for 3 years if the simple interest rate is 5 per year. You can learn more about financial analysis from the following articles Daily Compound Interest. The value x is A 6 B 8 C 9 D 10.
