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msingh
 2 years ago
i didn't understand how it comes , can any body explain, plse go through the following link:
http://www.jiskha.com/display.cgi?id=1364807092
msingh
 2 years ago
i didn't understand how it comes , can any body explain, plse go through the following link: http://www.jiskha.com/display.cgi?id=1364807092

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mathslover
 2 years ago
Best ResponseYou've already chosen the best response.2@msingh , let us first start with your introduction with compound interest formula. Can you tell me the formula for compound interest Msingh?

msingh
 2 years ago
Best ResponseYou've already chosen the best response.0yes, i know theformula for CI

mathslover
 2 years ago
Best ResponseYou've already chosen the best response.2What is the formula for Amount?

mathslover
 2 years ago
Best ResponseYou've already chosen the best response.2\(A_n = P(1+\cfrac{R}{100})^n\)

mathslover
 2 years ago
Best ResponseYou've already chosen the best response.2n = no. of times compounded ...

mathslover
 2 years ago
Best ResponseYou've already chosen the best response.2Solve A for 8% interest first [n=1 as it is compounded annualy]

phi
 2 years ago
Best ResponseYou've already chosen the best response.1See http://en.wikipedia.org/wiki/Compound_interest#Compound_Interest for a formula

phi
 2 years ago
Best ResponseYou've already chosen the best response.1the interest rate for 10% compounded semiannually (i.e. twice a year) means you use rate= 0.10/2 the number of compoundings in one year is 2, so the formula is P (1+ r/(100*2))^(2*1) or P (1+0.05)^2

phi
 2 years ago
Best ResponseYou've already chosen the best response.1the amount of principal plus interest for 8% compounded annually for one year is just P(1+0.08)^1 or P(1+0.08)

phi
 2 years ago
Best ResponseYou've already chosen the best response.1if you had compounding monthly, for n years it would be P(1+r/(100*12))^(12*n)

mathslover
 2 years ago
Best ResponseYou've already chosen the best response.2@msingh is your doubt clear now?

msingh
 2 years ago
Best ResponseYou've already chosen the best response.0yeah, i have solved it ...but one thing i have doubt about this line AFTER 1 YEAR WOULD HAVE BEEN 225 MORE

mathslover
 2 years ago
Best ResponseYou've already chosen the best response.2It means you have X apples today then after 1 year you will have 225 + X apples. I just gave you an example.

mathslover
 2 years ago
Best ResponseYou've already chosen the best response.2On the place of apples, we are talking about amount here. Welcome msingh

msingh
 2 years ago
Best ResponseYou've already chosen the best response.0@mathslover & @phi thank you so much
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