I pay XXX dollars a year. After 10(YY) years the total sum a company will pay me ZZZZ dollars. What again is the formula to calculate your interest?
mathematics experts. Question
Collapse
X
-
-
-
That's simple interest.
This is compounding interest:
P = C (1 + r/n) nt
where
P = future value
C = initial deposit
r = interest rate (expressed as a fraction: eg. 0.06)
n = # of times per year interest in compounded
t = number of years invested
Change "t" for each payment and then add them all up to get the sum.Comment






Comment