+1836 The formula for annual compound interest is A = P (1 + r/n) ^ nt:
Where: A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the number of years the money is invested or borrow
Source:http://www.thecalculatorsite.com/articles/finance/compound-interest-formula.php
+1836 The formula for annual compound interest is A = P (1 + r/n) ^ nt:
Where: A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the number of years the money is invested or borrow
Source:http://www.thecalculatorsite.com/articles/finance/compound-interest-formula.php
