What is compound interest - Definition and Meaning

Compound Interest :

Compound interest is an interest calculated on both the principal and the current interest.

Formula :

Example :

P = 1000, r = 10%, n = 5 times in year, t = 10 years, A = 1000 (1+(0.1/n)^5×10, A = 2691.59.

Coefficient Cramer’s Rule

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