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what is the formula for calculating time in compound interest. Sania made an investment of Rs 50000 with an annual interest. Monthly Compound Interest 20000 1 1012 1012 20000.
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This formula applies when interest is earned on an annual basis and the interest is earned once a year. When you know the principal amount the rate and the time the amount of interest can be calculated by using the formula. Monthly Compound Interest P 1 R 1212t P.
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Monthly Compound Interest 20000 1 1012 1012 20000. How to Calculate Compound Interest. The compound interest formula is given below. 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.
