compound interest formula
if D> 0: 2 real solutionsif D<0: 2 non-real solutions if D=0 : exactly 1 solution
The formula for compound interest is:
A = P(1 + r/n)^(nt)
In this formula:
– A is the amount of money accumulated after n years, including interest.
– P is the principal amount invested.
– r is the annual interest rate (as a decimal).
– n is the number of times the interest is compounded per year.
– t is the number of years the money is invested.
For example, if you invest $1,000 at an annual interest rate of 5% compounded quarterly for 3 years, the calculation would be:
A = 1000(1 + 0.05/4)^(4*3)
A = 1000(1.0125)^12
A = $1,164.98
Therefore, after 3 years, you would have accumulated $1,164.98 in total.
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