Warren Carlson
09/20/2023 · Junior High School
seme. 2) 6 explain the compounel interest
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Compound interest is calculated on the principal and the accumulated interest, leading to exponential growth over time. The formula for compound interest is \( A = P \left(1 + \frac{r}{n}\right)^{nt} \), where \( A \) is the total amount, \( P \) is the principal, \( r \) is the annual interest rate, \( n \) is the number of times interest is compounded per year, and \( t \) is the time in years. This method is beneficial for wealth accumulation and financial planning.
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