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Formulae Usage On Simple And Compound Interest
4 Comments | Posted by alwaysLovely in E-Math
We have discussed about Simple And Compound Interest using 2 case studies previously based on concepts understanding. Now we have introduced formulaes which will make your calculation faster and easier :)
To find the Total Amount based on Simple Interest, this is the formuale you can use:
An : Total Amount after n years
P: Original Principal Amount
r: Simple Interest Rate
n: Number of Years
To find the Total Amount based on Compound Interest, this is the formuale you can use:
An : Total Amount after n years
P: Original Principal Amount
r: Compound Interest Rate
n: Number of Years
Apply these formulaes to the case studies we have discussed, did you get the same answer?
Congrats!Now you have 2 different approaches, the formulae way or the conventional way to solve all Interest questions.
Keep using the strategies learnt so that you get better and better.
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4 Comments for Formulae Usage On Simple And Compound Interest
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