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what is the formula for compound interest if compounded annually. Interest can be compounded on. A Final amount.
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Thats the big idea of compound interest. N the number compounding periods per year n 1 for annually n 12 for monthly etc t the time in years or fraction of years multiples of 1n. Compound Interest in Excel Formula.
Due to being compounded monthly the number of periods for one year would be 12 and the rate would be 1 per month.
Compound Interest Formula P principal amount the initial amount you borrow or deposit r annual rate of interest as a decimal t number of years the amount is deposited or borrowed for. Due to being compounded monthly the number of periods for one year would be 12 and the rate would be 1 per month. A Accrued Amount principal interest P Principal Amount. However the principal amount will now be compounded semi-annually.
