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Compound Interest Questions and Answers
Compound Interest Questions
Definition of Compound Interest
Compound Interest is the interest calculated on the initial principal and the accumulated interest of previous periods of a deposit or loan.
- P [1+ R/100] n This formula is applied to calculate when money is compounded annually.
- P [1+ R/ (2*100)] 2n This formula is applied to calculate when money is compounded half-yearly
- P [1+ R/ (12*100)] 12n This formula is applied when money in compounded monthly.