Apply the Annual Compound Interest Formula

compound interest formula If a principal amount P is invested at an interest rate r for t years, then the simple interest earned will be I = Prt We can use the simple interest formula

Compound interest is “interest-on-interest”, or the ability of a financial instrument to generate earnings on its earnings See the compound interest compound interest formula Learn about Compound Interest Formula Explained topic of Maths in details explained by subject experts on Register free for online tutoring