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Science

What is a compound interest formula?

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The formula for compound interest is P times (1+R/N) to the NT power, where P is the initial principle balance, R is the interest rate, N is the number of times the interest is applied per time period, & T is the number of time periods elapsed.

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A = P times parenthesis 1 + r over n close parenthesis to the power of n times t A = final amount P = initial principal balance r = interest rate n = number of times interest applied per time period t = number of time periods elapsed

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